UBS initiated coverage of California Resources with a Buy rating and $68 price target The firm views California Resources as a unique exploration and production company, with a diversified asset base that differentiates it versus peers, including power, real estate, and an emerging carbon capture, utilization and storage business. It looks for the company to begin receiving its Class VI permits in Q4, providing a key catalyst and improving visibility into the growth ahead for the CCUS unit.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CRC:
- Colorado School of Mines, Carbon TerraVault awarded $8.9M in DOE funding
- California Resources price target raised to $57 from $55 at Barclays
- California Resources and Sage Geosystems sign collaboration MoU
- California Resources management to meet with Roth MKM
- California Resources price target lowered to $62 from $64 at Mizuho