Crescent Energy resumed with an Outperform at Evercore ISI

Evercore ISI resumed coverage of Crescent Energy with an Outperform rating and $17 price target following a period of restriction. The firm continues to view Crescent as a play on the energy value chain consolidation theme, citing the company’s “proven ability to transact in both the private and public spheres, with an understanding of cost of capital and how best to finance such transactions.” Crescent ‘s 2025 guidance will likely highlight 10%-plus improvement in capital and cash flow efficiency, the analyst tells investors in a research note. Evercore sees room for the SilverBow Resources synergy target to move up with the Q3 results.