B of A Securities Downgrades California Resources to Neutral, Lowers Price Target to $60
Portfolio Pulse from Benzinga Newsdesk
B of A Securities analyst Kalei Akamine has downgraded California Resources (NYSE:CRC) from Buy to Neutral and reduced the price target from $64 to $60.
January 05, 2024 | 2:33 pm
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NEGATIVE IMPACT
California Resources was downgraded by B of A Securities from Buy to Neutral with a price target decrease from $64 to $60.
Downgrades by analysts can lead to a negative perception among investors, potentially causing a short-term decline in the stock price. The reduction in the price target further suggests a tempered outlook for the stock's performance.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100