UPDATE: Bank of America Raises PT on Continental Resources from $73 to $77

Bank of America has published a report on Continental Resources Inc CLR increasing the price target by $4. In the report, Bank of America wrote, "CLR reported adj. EPS of $0.60/sh lagging BofAMLe and consensus by 1¢. Volumes of 53.9 Mboepd fell shy of our 56.0 Mboepd causing a negative $0.03/sh variance in EPS however, higher realized prices offset some of the losses. CLR's GAAP earnings were $1.33/sh embedding $143mm of unrealized derivatives gain." Bank of America rated Continental Resources a BUY with a price target raised from $73.00 to $77.00. Continental Resources closed Wednesday at $65.38.
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Posted In: Analyst ColorPrice TargetAnalyst RatingsBank of America Merrill LynchContinental ResourcesEnergyOil & Gas Exploration & Production
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