Canaccord hikes its target price for Continental Resources (CLR) to $94 from $89, citing a ~5%...

|About: Continental Resources, Inc. (CLR)|By:, SA News Editor

Canaccord 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.