Wells Fargo lowered the firm’s price target on Crescent Energy (CRGY) to $19 from $20 and keeps an Overweight rating on the shares. The firm anticipates some noise on Q3 production due to intra-quarter close of the SilverBow Resources (SBOW) acquisition and the timing of SilverBow Resources TIL activity. However, Wells increases its Q4 2024 and 2025 production estimates.
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