Why These Energy Stocks Are Gaining This Week

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1. Comstock Resources, Inc. (NYSE:CRK)

Share Price Gains Between June 11 – June 18: 28.4%

Topping our list of Energy Stocks that Gained the Most This Week is Comstock Resources, Inc. (NYSE:CRK), a leading independent natural gas producer with operations focused on the development of the Haynesville shale in North Louisiana and East Texas.

Comstock Resources, Inc. (NYSE:CRK) received a massive boost this week after the analysts at Wolfe Research upgraded the stock from ‘Peer Perform’ to ‘Outperform’ and raised its price target to $34. The positive outlook comes as a result of a shift in the company’s investment focus from distributable cash flow to a result-based valuation, supported by reduced risks in the company’s backlogs due to its successful well tests.

Moreover, Comstock Resources, Inc. (NYSE:CRK) has emerged as a leader in the Western Haynesville play, where the significantly lower land costs help position the company as a low-cost gas producer and enhance its profitability amid an anticipated surge in natural gas prices.

While we acknowledge the potential of CRK 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 CRK and that has 100x upside potential, check out our report about this cheapest AI stock.

READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and 15 Best Large Cap Energy Stocks to Buy According to Hedge Funds

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