California Resources price target lowered to $55 from $57 at Barclays

Barclays lowered the firm’s price target on California Resources (CRC) to $55 from $57 and keeps an Equal Weight rating on the shares. The company’s Q4 beat while the 2025 guidance implies a more capital efficient development, the analyst tells investors in a research note. The firm believes California Resources’ Brookfield payment deferral is a matter of capital allocation rather than a reflection on the joint venture commitment.