$CRC just in case nobody got that - back to the 'drawing board', they say .. hmm. "California Resources downgraded to In-Line from Outperform at Imperial Capital Imperial Capital analyst Jason Wangler downgraded California Resources to In-Line from Outperform with a price target of $2, down from $11. The downgrade follows the company's termination of its exchange and subscription offers. The drop in oil prices sends California Resources back to the drawing board to improve its balance sheet, Wangler tells investors in a research note. Lower commodity prices should impact the company's debt reduction initiatives and EBITDA generation potential, says the analyst."
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