California Resources price target raised to $57 from $55 at Barclays

Barclays raised the firm’s price target on California Resources to $57 from $55 and keeps an Equal Weight rating on the shares. The firm changed estimates in the integrated oil and exploration and production group to reflect a reduction in oil price forecasts of $10 per barrel in 2025 and $5 in 2026. With the recent sector pullback, the risk/rewards are skewed to the upside for stocks as company fundamentals and operational momentum remain solid, the analyst tells investors in a research note.