Raymond James analyst John Freeman raised the firm’s price target on Crescent Energy (CRGY) to $20 from $19 and keeps a Strong Buy rating on the shares. Crescent Energy posted another solid quarter, the third consecutive quarter where the outlook as improved, the analyst tells investors in a research note. The firm notes that Crescent still screens extremely cheap on a free cash flow basis with an estimated ~20% yield in 2025 and 2026 at strip pricing, and believes the recent Ovintiv (OVV) sale in the Uinta Basin screens well for implied value of Crescent.
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