California Resources Faces Permit Challenges And Oversupply Risks—Analyst Sees Growth, But Stay Cautious
1. J.P. Morgan maintains Neutral rating with $63 price forecast for CRC. 2. CRC missed Q4 estimates with EPS of $0.91 and $877 million revenue. 3. Strong EBITDA and CCS momentum noted, but regulatory challenges remain. 4. Concerns over oil exposure and potential oversupply in 2025 impact outlook. 5. CRC pursuing clean power initiatives amidst permitting challenges.