California Resources price target raised to $72 from $68 at Stifel

Stifel analyst Nate Pendleton raised the firm’s price target on California Resources to $72 from $68 and keeps a Buy rating on the shares. The firm is updating its model on CRC following the announced acquisition of Aera Energy, the analyst tells investors. Stifel is overall positive on the deal and believes the resulting company will offer a compelling investment proposition with attractive returns and advantaged exposure to the energy transition.