The initiation of coverage by Barclays with an Equal-Weight rating and a price target of $62 suggests a neutral outlook on California Resources. This rating indicates that Barclays views CRC as fairly valued at its current price, with potential for moderate growth to reach the target price. The impact on the stock price in the short term is likely neutral, as the Equal-Weight rating does not suggest significant underperformance or outperformance relative to the market or sector.