Jefferies analyst Emma Schwartz raised the firm’s price target on California Resources (CRC) to $71 from $61 and keeps a Buy rating on the shares. The firm says California’s SB237 regulation enables growth in the oil and gas industry. California Resources’ acquisition of Berry, with production growth post-SB237, should be 17% accretive to 2026 cash flow estimates when including synergies, the analyst tells investors in a research note.
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