MTDR - Hamm's bid for Continental Resources likely too low may be worth $95/share (update)

Update 12:15pm: Adds comment from CLR holder Smead Capital. Billionaire wildcatter Harold Hamm's $70/share bid for the remainder of Continental Resources (NYSE:CLR) he doesn't already own is likely not a large enough price for the shale driller, according to analysts. CLR shares rose 15%, trading at $73.60, indicating that some investors believe a higher offer could be coming or needed to get a deal done. Continental Resources may be worth $95/share in a potential takeout, according to Truist analyst Neil Dingmann, who has a $95 price target and buy rating on CLR. It's worth watching what level a potential outside bidder may be consider paying for the company. RBC analyst Scott Hanold also wrote in a note that that it will likely take a higher price to get a deal done, especially in light of the current elevated commodity price environment. He highlighted that avg. consensus price target is $78-$79/share. Smead Capital,

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Hamm's bid for Continental Resources likely too low, may be worth $95/share (update)