BofA analyst Kalei Akamine lowered the firm’s price target on California Resources (CRC) to $50 from $64 and keeps a Buy rating on the shares. Following the lead set by the firm’s commodity research team, the analyst lowered the Q2-Q4 2025 WTI oil deck to $57 per barrel from $64.50, noting that the firm’s house view anticipates the biggest negative impact on oil prices in Q2. Lower oil prices reduce valuations across the analyst’s coverage by an average of 25%, the firm noted.
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Read More on CRC:
- California Resources price target lowered to $47 from $55 at Barclays
- California Resources price target lowered to $60 from $68 at RBC Capital
- California Resources downgraded to Neutral from Buy at Citi
- California Resources price target lowered to $67 from $73 at Stephens
- California Resources price target lowered to $55 from $57 at Barclays