---
title: "Strategic Acquisition and Legislative Support Boost California Resources Corp to Buy Rating"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/258497759.md"
description: "Kalei Akamine has assigned a Buy rating to California Resources Corp (CRC) due to its strategic acquisition of Berry Petroleum, which is expected to add approximately $2 per share in value. The acquisition is anticipated to yield significant cost savings and enhance CRC's financial outlook. Additionally, California's SB 237 legislation is seen as a de-risking factor, potentially adding $4 per share to the price objective. Consequently, the price target has been raised to $66 per share, with Jefferies also maintaining a Buy rating at $71.00."
datetime: "2025-09-23T10:05:42.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/258497759.md)
  - [en](https://longbridge.com/en/news/258497759.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/258497759.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/258497759.md) | [繁體中文](https://longbridge.com/zh-HK/news/258497759.md)


# Strategic Acquisition and Legislative Support Boost California Resources Corp to Buy Rating

Kalei Akamine has given his Buy rating due to a combination of factors related to California Resources Corp’s strategic moves and legislative developments. The recent acquisition of Berry Petroleum is seen as a positive step, adding value to CRC’s stock by approximately $2 per share. This acquisition is expected to bring significant synergies, including cost savings in SG&A and interest expenses, which enhance the company’s financial outlook.  
Furthermore, the passing of California’s SB 237 legislation is considered a de-risking factor for CRC’s operations, allowing for a reduction in the discount rate applied to its exploration and production activities. This legislative change is anticipated to improve the operating environment for CRC, contributing an additional $4 per share to the price objective. These factors combined have led to an increased price objective of $66 per share, reinforcing the Buy rating.

In another report released on September 21, Jefferies also maintained a Buy rating on the stock with a $71.00 price target.

### Related Stocks

- [California Resources Corporation (CRC.US)](https://longbridge.com/en/quote/CRC.US.md)

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