RBC Capital Maintains Outperform Rating for Callon Petroleum: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
RBC Capital has maintained its Outperform rating for Callon Petroleum (NYSE:CPE) but lowered its price target from $55.00 to $50.00. The current share price is $33.41, meaning the new target represents a 49.66% increase. Callon Petroleum is primarily involved in oil and natural gas exploration, development, acquisition, and production in the Permian Basin region of West Texas and southeastern New Mexico.
July 10, 2023 | 5:01 pm
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RBC Capital has maintained its Outperform rating for Callon Petroleum but lowered its price target. This could potentially lead to increased investor interest, but the lowered price target may also indicate a slower growth rate than previously expected.
The maintained Outperform rating indicates that RBC Capital still sees potential in Callon Petroleum's stock, which could attract investors. However, the lowered price target suggests that the growth rate might be slower than previously expected, which could temper investor enthusiasm.
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IMPORTANCE 75
RELEVANCE 100