Roth Capital raised the firm’s price target on California Resources (CRC) to $56 from $52 and keeps a Buy rating on the shares after the company reported Q2 cash flow per share that was 13% above consensus due to slightly higher production and gave Q3 production guidance 2.3% above consensus. The firm is raising its 2025 cash flow per share view 11% and raising its 2026 CFPS view by 4% on lower costs and taxes.
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Read More on CRC:
- California Resources reports Q2 adjusted EPS $1.10, consensus 92c
- California Resources sees Q3 adjusted EBITDAX $310M-$340M
- California Resources sees FY25 adjusted EBITDAX $1.195B-$1.275B
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