BofA raised the firm’s price target on California Resources (CRC) to $53 from $50 and keeps a Buy rating on the shares. The firm is updating its price targets on U.S. Oil and Gas stocks under its coverage following Q1 results, the analyst tells investors. BofA sees a bull case for oil starting with summer demand, but notes it is “tenuous at best” due to geopolitics. Additionally, the firm continues to see a cleaner set-up in dry natural gas but notes the upside in this sub-sector has compressed.
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Read More on CRC:
- California Resources price target raised to $44 from $36 at Citi
- California Resources price target lowered to $60 from $64 at Mizuho
- California Resources price target raised to $50 from $47 at Barclays
- California Resources Corp Shines in Earnings Call
- California Resources price target raised to $51 from $49 at UBS
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