Market Overview

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

Share:
Related COP
Piper Jaffray's Energy Desk Upgrades Chevron, Says Name Is Attractive At Current Point In Oil Cycle
Social Media Races Past Autos, Oil as Earnings Parade Continues
Build A Profitable Dividend Growth Investing Portfolio From Scratch (Podcast With Dividend House) (Seeking Alpha)

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
Jul 2016JP MorganUpgradesUnderweightNeutral
Apr 2016CitigroupMaintainsBuy
Apr 2016JefferiesDowngradesHoldUnderperform

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!