Stephens initiated coverage of California Resources (CRC) with an Overweight rating and $73 price target The company, a “leader in carbon management,” is set to receive California’s first Class VI permits in Q4 and begin injecting CO2 at its CTV I site before year-end 2025, the analyst tells investors. The emerging CCS business with highly visible catalysts will provide differentiated growth and should support a premium valuation, the analyst argues.
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Read More on CRC:
- California Resources initiated with a Buy at UBS
- 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
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