JPMorgan analyst Zach Parham upgraded California Resources (CRC) to Overweight from Neutral with a price target of $63, up from $60. The firm says the shares are undervalued at current levels on a sum-of-the-parts basis. It estimates fair value at $63 per share, or 30% above current levels. JPMorgan sees catalysts for California Resources at a discounted valuation.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
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 $61 from $60 at Mizuho
- California Resources price target raised to $58 from $51 at UBS
- California Resources Corp to Repurchase 4.95M Shares
- California Resources buys back 4.95M shares from IKAV for $227.7M
- Airbnb, Zscaler downgraded: Wall Street’s top analyst calls