FBR Capital says it is maintaining their "Market Perform" on Comstock Resources, Inc. (NYSE:CRK).
"Our recent conversations with management suggest a willingness to slow down Haynesville activity to live within/close to cash flows. Also, a growing high condensate area focused Eagle Ford acreage position allows for improving flexibility in capital allocation. We are fans of the steps being undertaken, which signify a focus on returns, preservation of balance sheet strength, and gas price rebound optionality...However, we await a better entry point...," said FBR.
Comstock closed Wednesday at $21, gaining $0.21, or 1.01 percent.
FBR has a price target on the company of $25.
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