"CLR shares have more than doubled off the lows. A $50/bbl oil price by May came true. If all goes to plan, the oil market, to which CLR is highly levered, should rebalance over the coming 18 months," the firm wrote in a note.
"The challenge from the equity market perspective is that the shares look fully valued at our $65/bbl longer term oil price (2019). We'd also like the balance sheet gearing to be improved," Credit Suisse added.
The oil and natural gas company is based in Oklahoma City.
Shares of Continental Resources closed up 1.57% to $42.04 on Monday.
Crude oil (WTI) is climbing 2.24% to $49.71 per barrel this afternoon and Brent crude is advancing 1.83% to $50.55 per barrel.
Separately, TheStreet Ratings Team has a "Sell" rating with a score of D on the stock.
The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: CLR