Dahlman Rose Starts Continental Resources (CLR) at Buy; Hitting Its Stride in the Bakken

Dahlman Rose initiates coverage on Continental Resources (NYSE: CLR) with a Buy. PT $75.00.

Dahlman analyst says, "We view Continental Resources (CLR) as an attractive investment, given the company’s leverage to the Bakken play, its catalysts from deeper drilling exploration in the Three Forks/Sanish formation, and its expansion of the Anadarko (Cana) Woodford Shale play. Additional upside comes from the potential for CLR to continue to see higher reserves per well in the Bakken, given its increase in completion stages per well and success in deeper benches. We calculate an NAV of $75/share with upside as the company de-risks the lower benches."

For an analyst ratings summary and ratings history on Continental Resources click here. For more ratings news on Continental Resources click here.

Shares of Continental Resources closed at $64.05 yesterday.

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