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Canaccord hikes its target price for Continental Resources (CLR) to $94 from $89, citing a ~5%...
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Tuesday, August 21, 2012, 3:56 PM ETCanaccord hikes its target price for Continental Resources (CLR) to $94 from $89, citing a ~5% higher estimated 2012 production largely related to Bakken development, and a $200M/year increase projected in 2013 capital spending. The firm likes CLR's strategy of consolidating its Bakken interest through the acquisition of additional interests in operated and non-operated wells.
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