Crescent Energy Company (NYSE:CRGY) is included among the 14 Best Energy Stocks to Buy According to Wall Street Analysts.
Crescent Energy Company (NYSE:CRGY) engages in the exploration and production of crude oil, natural gas, and natural gas liquids in the United States, with activities focused in the Eagle Ford, Permian, and Uinta Basins.
On March 17, Mizuho raised its price target on Crescent Energy Company (NYSE:CRGY) from $12 to $14, while maintaining a ‘Neutral’ rating on the shares. The bumped target indicates an upside of 12% from the current price levels.
The move comes after Mizuho increased its oil price projection for 2026 by 14% to $73.25 per barrel, driven by the ongoing US-Iran war. The conflict has led to Tehran closing down the Strait of Hormuz and effectively choking around a fifth of the global crude oil supply. As a result, crude prices soared to their highest levels since Russia invaded Ukraine in 2022.
While it is still too early to tell whether the war will raise the structural price of global crude, Mizuho believes that the bias is likely higher. Overall, the analyst firm remains positive on the overall oil and gas sector.
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