Market Overview

UPDATE: Citigroup Upgrades ConocoPhillips to Buy on Sustained Growth and Margin Uplift

Share:
Related COP
ConocoPhillips Is 'A Value Opportunity In Energy'; Goldman Upgrades To Buy
7 Biggest Price Target Changes For Monday
Oil Caps 12% Weekly Gain, But U.S. Rig Count Highest Since January (Investor's Business Daily)

Citigroup raises its rating on ConocoPhillips (NYSE: COP) from Neutral/High Risk to Buy and increases its price target from $64.80 to $67.

Citigroup says, "We are upgrading COP to Buy from Neutral/High Risk. We are raising our target to $67 per share based on our revised analysis of COP without downstream. Our view had been to remain Neutral until the company was split up given the lack of clarity on oil prices and spreads. Furthermore, we believe the split up is causing significant turnover in the shareholder base providing an opportunistic entry point into both names (based on research done by Citi on splitups)."

COP closed at $52.11 on Friday.

Latest Ratings for COP

DateFirmActionFromTo
Nov 2016Goldman SachsUpgradesNeutralBuy
Nov 2016CLSADowngradesOutperformUnderperform
Nov 2016Edward JonesUpgradesHoldBuy

View More Analyst Ratings for COP
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Upgrades Price Target Pre-Market Outlook Analyst Ratings

 

Related Articles (COP)

View Comments and Join the Discussion!