UPDATE: Scotia Capital Lowering Price Target on Comstock Resources

Scotia Capital is out with a research report on Comstock Resources, Inc. (NYSE: CRK) and it is lowering its price target to $27 from $29, but is keeping its Sector Perform rating on shares.

In a note to clients, Scotia Capital writes, " We maintain our 2-SP rating and have modestly lowered our one-year target price to $27 (from $29) after evaluating our target-price build up."

Shares of CRK closed at $18.24 yesterday.