** TD Cowen raises price target on U.S.-based oil and gas firm California Resources CRC.N to $74 from $65
** CRC shares up 1.1% at $58.68 premarket with low volumes
** New PT represents 27% upside to stock's last close
** Brokerage says "CRC is our best idea for 2025 as co embarks on multiple value unlocking catalysts that we feel are still underappreciated by investors"
** Adds CRC has several potential catalysts over the course of FY25 that should materially illuminate unlocked value potential
** Catalysts include acquiring permits for its Carbon TerraVault $(CTV)$ project, securing long-term Power business contracts and ending drilling freezes in its exploration and production (E&P) business
** "We expect to gain clarity on those issues over the course of FY25" - TD Cowen
** 9 of 10 brokerages rate stock "buy" or higher, 1 "hold"; their median PT is $65.50 - data compiled by LSEG
** As of last close, stock up 6.16% YTD
(Reporting by Pooja Menon in Bengaluru)
((Pooja.Menon@thomsonreuters.com;))
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