Wunderlich Securities Slightly Lowers Estimates on Continental Resources

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Hold rating and $80.00 price target on

. In the report, Wunderlich Securities noted, “Continental Resources (CLR) had an analyst day that allowed for a deeper look into the asset base and plans for the future (including 2015 guidance). As is all too common after any given analyst day anymore, Continental's stock price was hit rather hard despite the many positive data points as investors focused more on the higher capital spending (without subsequent increases in growth) and the stagnant type curve in the Williston even with the improvements from new completion techniques. The company also announced some shifts in management, which truthfully began the week before, and proved it has a deep bench to run its asset base. Our estimates don't change much as 2015 guidance was essentially in-line with our expectations but CapEx did lower them slightly.” Continental Resources closed on Friday at $68.47.