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Upgrade Alert for Carrizo Oil & Gas (CRZO)

By David Diaz

Carrizo Oil & Gas (NASDAQ:CRZO) was upgraded from Accumulate to Buy at KLR Group today. The stock closed yesterday at $36.75 on volume of 1.6 million shares, below average daily volume of 1.7 million.

Carrizo Oil & Gas, Inc. explores for and produces natural gas and crude oil. The Company develops and exploits onshore properties along the Texas and Louisiana Gulf Coast regions.

Carrizo Oil & Gas share prices have moved between a 52-week high of $56.26 and a 52-week low of $16.10 and closed yesterday at 128% above that low price at $36.75 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has advanced 3.2%.

There is potential upside of 33.9% for shares of Carrizo Oil & Gas based on a current price of $36.75 and an average consensus analyst price target of $49.21. The stock should find initial support at its 200-day moving average (MA) of $32.15 and further support at its 50-day MA of $30.23.

SmarTrend is tracking the current trend status for Carrizo Oil & Gas and will alert subscribers who have CRZO in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades carrizo oil & gas

Ticker(s): CRZO