Piper Sandler Raises Crescent Energy (CRGY) PT to $15, Cites Strong Q1 Performance

Crescent Energy Company (NYSE:CRGY) is one of the stocks under $10 to buy now. On July 17, Piper Sandler analyst Mark Lear increased the price target for Crescent Energy from $14 to $15, while maintaining an Overweight rating on the shares. The adjustment came as the firm updated its outlook for the alternative energy sector.

In Q1 2025, Crescent Energy reported exceeding $240 million in free cash flow for the quarter, equating to an annualized free cash flow yield of ~45%. Production reached a record 258,000 barrels of oil equivalent per day. Adjusted EBITDA for the quarter was ~$530 million. Crescent Energy exited the quarter with a net leverage of 1.5x and ~$1.4 billion in liquidity, with no near-term maturities.

Piper Sandler Raises Crescent Energy (CRGY) PT to $15, Cites Strong Q1 Performance

Oil and natural gas pumps glowing in the sunrise, symbolic of the company’s power.

The company has maintained a consistent strategy for over a decade, focusing on substantial free cash flow generation through a less capital-intensive business model. The successful closure and integration of the Ridgemar acquisition added high-margin production and a significant low-risk inventory.

Crescent Energy Company (NYSE:CRGY) is an energy company that engages in the exploration and production of crude oil, natural gas, and natural gas liquids in the US.

While we acknowledge the potential of CRGY to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CRGY and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.