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CLR

Continental Resources

$33.54

0.16 (0.48%)

06:49
12/17/19
12/17
06:49
12/17/19
06:49

Goldman Sachs downgrades Continental Resources to Sell on 'too rich' valuation

As previously reported, Goldman Sachs analyst Brian Singer downgraded Continental Resources to Sell from Neutral with a price target of $28, down from $35. Although he expects above-average cash return on cash invested to continue, he sees the stock's current valuation as "too rich" compared to peers given his expectations for favorable, but less differentiated, debt-adjusted per share growth and free cash flow. Singer also notes that his estimates for Continental's oil production in 2020 are below consensus.

CLR Continental Resources
$33.54

0.16 (0.48%)

10/10/19
MZHO
10/10/19
DOWNGRADE
MZHO
Neutral
Continental Resources downgraded to Neutral from Buy at Mizuho
10/10/19
MZHO
10/10/19
DOWNGRADE
Target $38
MZHO
Neutral
Continental Resources downgraded to Neutral from Buy at Mizuho
Mizuho analyst Paul Sankey downgraded Continental Resources to Neutral from Buy with a $38 price target. The analyst says that while the company has taken steps to reduce leverage and initiated its own cash return strategy, he has too much concern about the trajectory of spending and the quality of its unconventional opportunity longer-term to remain Buy-rated.
10/10/19
10/10/19
DOWNGRADE

Fly Intel: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Kroger (KR) downgraded to Hold from Buy at Jefferies with analyst Christopher Mandeville saying after the stock's 15% rally in three months, the analyst is "checking out" as his confidence in Kroger's long-term grocery strategy and management's ability to effectively communicate "wanes." 2. HP Inc. (HPQ) downgraded to Sell from Neutral at Goldman Sachs while Cisco (CSCO) was downgraded to Neutral from Buy. 3. Continental Resources (CLR) downgraded to Neutral from Buy at Mizuho analyst Paul Sankey saying while the company has taken steps to reduce leverage and initiated its own cash return strategy, he has too much concern about the trajectory of spending and the quality of its unconventional opportunity longer-term to remain Buy-rated. 4. Evergy (EVRG) downgraded to Neutral from Buy at BofA/Merrill with analyst Julien Dumoulin-Smith citing the Missouri PSC vote in favor of petitioners against the company in the ongoing Sibley Generating Station complaint. 5. ForeScout (FSCT) downgraded to Neutral from Overweight at JPMorgan with analyst Sterling Auty citing the company's announcement of preliminary September quarter revenue that was about 10% short of expectations due primarily to macroeconomic conditions in EMEA. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
12/17/19
GSCO
12/17/19
DOWNGRADE
Target $28
GSCO
Sell
Continental Resources downgraded to Sell from Neutral at Goldman Sachs
Goldman Sachs analyst Brian Singer downgraded Continental Resources to Sell from Neutral with a $28 price target.

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