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Comstock Resources (NYSE:CRK)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued to investors on Wednesday, Stock Ratings Network reports. They currently have a $18.00 price objective on the stock. Zacks‘ price target would suggest a potential upside of 4.35% from the stock’s previous close.

Zacks‘ analyst wrote, “Comstock Resources’ large acreage position in the prolific Haynesville/Bossier Shale play provides a multi-year inventory of low-risk development drilling opportunities. Supplemented with a low cost structure, Comstock remains well positioned to maintain a strong growth trajectory in the near- to medium-term. The initiation of a quarterly cash dividend will create further value for shareholders. However, the company’s highly gas-weighted reserves/production profile, along with its geographically concentrated asset base, offset these strengths and is the key area of concern, in our view. The rise in net debt/reduction of liquidity associated with the Delaware Basin acquisition is also concerning. As such, we see limited upside from current levels and maintain our Neutral recommendation on Comstock shares.”

A number of other analysts have also recently weighed in on CRK. Analysts at Barclays reiterated an “equal weight” rating on shares of Comstock Resources in a research note to investors on Monday. They now have a $22.00 price target on the stock, down previously from $23.00. Separately, analysts at Imperial Capital initiated coverage on shares of Comstock Resources in a research note to investors on Tuesday, January 14th. They set an “outperform” rating and a $20.00 price target on the stock. Finally, analysts at Stifel Nicolaus upgraded shares of Comstock Resources from a “hold” rating to a “buy” rating in a research note to investors on Friday, November 22nd. They now have a $25.00 price target on the stock. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.50.

Comstock Resources Inc (NYSE:CRK) is engaged in the acquisition, development, production and exploration of oil and natural gas.

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