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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 $35.19 on volume of 2.2 million shares, above average daily volume of 1.7 million.

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 119% above that low price at $35.19 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 3.2% while the 200-day MA has slid 0.4%.

There is potential upside of 39.8% for shares of Carrizo Oil & Gas based on a current price of $35.19 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.

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.

SmarTrend is monitoring the recent change of momentum in Carrizo Oil & Gas. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Carrizo Oil & Gas in search of a potential trend change.

Keywords: analyst upgrades/downgrades carrizo oil & gas

Ticker(s): CRZO