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.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRC:
- California Resources management to meet with Roth Capital
- California Resources Corp Announces Merger with Berry Corp
- California Resources price target raised to $70 from $63 at UBS
- California Resources price target raised to $66 from $60 at Barclays
- Strategic Acquisition Boosts California Resources Corp’s Growth Prospects: Analyst Recommends Buy