UPDATE: Bank of America Raises PT on Continental Resources from $73 to $77

Bank of America has published a report on Continental Resources Inc (NYSE: CLR) increasing the price target by $4.

In the report, Bank of America wrote, "CLR reported adj. EPS of $0.60/sh lagging BofAMLe and consensus by 1¢. Volumes of 53.9 Mboepd fell shy of our 56.0 Mboepd causing a negative $0.03/sh variance in EPS however, higher realized prices offset some of the losses. CLR's GAAP earnings were $1.33/sh embedding $143mm of unrealized derivatives gain."

Bank of America rated Continental Resources a BUY with a price target raised from $73.00 to $77.00. Continental Resources closed Wednesday at $65.38.