Wells Fargo analyst Sam Margolin lowered the firm’s price target on California Resources (CRC) to $56 from $58 and keeps an Overweight rating on the shares after hosting the company’s CEO for investor meetings last week. Attention was focused on the CA regulatory environment and Wells’ conclusion is that the de-risked backdrop could be underappreciated. Resource depth could become a more top-of-mind factor, the firm adds.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRC:
- California Resources price target lowered to $64 from $68 at JPMorgan
- Wells Fargo Says These 2 Energy Stocks Could Heat Up in 2026
- California Resources initiated with an Overweight at Wells Fargo
- California Resources Awaits Final Approval for Berry Merger
- California Resources price target lowered to $68 from $70 at UBS