"Scotiabank analyst Paul Cheng downgraded Continental Resources (NYSE: CLR) from Sector Outperform to Sector Perform with a price target of $90.00." < Paul's price target is the highest of 15 reports submitted to TipRanks. Only 2 of the 15 rate CLR a BUY, probably because of the $70/share offer from Harold Hamm.
CLR is currently trading at $67.50.
So, how does an analyst downgrade a stock that is trading at 33% discount to his price target? Maybe he thinks the entire sector has 33% upside.
This is what happens in a Bear Market - Aug 1
This is what happens in a Bear Market - Aug 1
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group