Raymond James analyst John Freeman has adjusted the price target for Crescent Energy (CRGY, Financial) downwards from $18 to $16, while maintaining a strong buy recommendation on the company's shares. According to Freeman, the energy sector has experienced significant changes since the last quarter, particularly with oil prices plummeting by approximately $10 per barrel since late February.
This decline in oil prices has left limited options for energy companies to mitigate its impact. The combined effects of the ongoing tariff war and recent decisions by OPEC+ have added to the complexity of the situation, prompting many companies in the sector to adopt a cautious approach as they await further developments. Despite these challenges, Raymond James anticipates that Crescent Energy and other companies in its Exploration & Production coverage will perform in line with expectations for the first quarter.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 12 analysts, the average target price for Crescent Energy Co (CRGY, Financial) is $14.97 with a high estimate of $21.00 and a low estimate of $8.10. The average target implies an upside of 78.60% from the current price of $8.38. More detailed estimate data can be found on the Crescent Energy Co (CRGY) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Crescent Energy Co's (CRGY, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Crescent Energy Co (CRGY, Financial) in one year is $11.22, suggesting a upside of 33.89% from the current price of $8.38. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Crescent Energy Co (CRGY) Summary page.
