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Jefferies Raises ConocoPhillips Target Price to $174
Businessinsider
10-07 18:15
Ai Focus
Jefferies raises ConocoPhillips' target price from $159 to $174 and maintains a buy rating. The bank believes that the company has actively participated in mergers and acquisitions and divestitures in the market after the conflicts in the Middle East, selling off mature assets; third-quarter performance is expected to be roughly in line with expectations, but there is still room for improvement in shareholder returns.
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Analyst Lloyd Byrne has raised the target price of ConocoPhillips (ConocoPhillips, COP) from $159 to $174 and maintains a buy rating on the stock.

In a research report for investors, this analyst stated that since the outbreak of the Middle East conflict, the company has been one of the few operators active in the A&D (acquisitions and divestitures) market, and has managed to sell mature assets at higher prices.

Jefferies added that although the company's third-quarter performance is expected to generally meet expectations after the price correction, there is still potential for an increase in shareholder returns.

This message was originally published on TheFly – a real-time source for breaking financial news that affects the market.

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