Barrington Research Reiterates Outperform Rating, $137 PT on Continental Resources

In a report published Friday, Barrington Research reiterated its Outperform rating and $137.00 price target on Continental Resources CLR. Barrington Research noted, “We continue to recommend Continental Resources as an OUTPERFORM and a price target of $137 by the end of 2013. With the completion of a recently announced acquisition and divestiture, production growth in 2013 is now expected to be 35-40%. We had been estimating growth of 33-34%. We will adjust our estimates when we update our commodity assumptions in a few weeks.” Continental Resources closed on Thursday at $75.39.