- Continental Resources (CLR +2.9%) is upgraded to Buy from Hold with a $45 price target, up from $32, at Wunderlich, which believes CLR's major plays provide ample opportunity in either a positive or negative commodity price environment and that cost reduction measures have established a cash flow neutral position heading into 2016.
- Citing CLR's "solid" Q3 results, another production guidance increase and cost reductions, the firm says it has visibility into next year where CLR can be cash flow neutral while continuing to develop its exciting asset positions, allowing the company to get through the downturn and emerge in a stronger position.