RBC Capital lowered the firm’s price target on California Resources (CRC) to $60 from $68 and keeps an Outperform rating on the shares. The company continues to improve its oil & gas business by managing decline rates and further lower the cost structure, the analyst tells investors in a research note. The management should also have color on progress on ground-breaking for the first CCS project and progress on the Huntington Beach asset sale process, RBC adds.
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Read More on CRC:
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