BofA raised the firm’s price target on California Resources (CRC) to $60 from $53 and keeps a Buy rating on the shares, noting that California Governor Gavin Newsom and state energy officials are promoting a draft that would revive oil and gas permitting in the state. Should the Legislature clear the way for oil permitting, the firm believes the “market can recenter its focus on the attractive option value” that it believes differentiates the California Resources investment case, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
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 raised to $63 from $61 at UBS
- California Resources price target raised to $61 from $58 at UBS
- California Resources price target raised to $64 from $61 at Mizuho
- California Resources Corp: Strong Earnings Call Highlights
- California Resources Corp Reports Strong Q2 2025 Results