- Continental Resources (CLR -5.5%) falls sharply after Global Hunter downgrades shares to Neutral from Buy because the price has breached the firm’s $120 target.
- Despite CLR’s “strong production growth trajectory,” the firm is no longer urging investors to accumulate shares “due to limited estimated upside.”
- Global Hunter downgraded several other energy companies to Neutral: PDCE -4.3%, REXX -6.5%, EOX +0.2%, EPL -7.8% and OAS -0.4%.
- The firm upgraded RRC, SFY and KOG to Buy, and KOG to Accumulate.
Continental Resources tumbles on analyst downgrade
Oct 23 2013, 12:56 ET