California Resources price target raised to $70 from $65 at RBC Capital

RBC Capital raised the firm’s price target on California Resources (CRC) to $70 from $65 and keeps an Outperform rating on the shares. The company’s carbon management business is building momentum, and while the last couple of years saw some delays, California could issue CTV the state’s first ever Class VI permit, which could hold significant value for shareholders and broaden California Resources t investor base, the analyst tells investors in a research note.