Jefferies Upgrades ConocoPhillips (COP) to Hold

September 7, 2016 7:09 AM EDT
Get Alerts COP Hot Sheet
Price: $49.94 -1.56%

Rating Summary:
    14 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 24 | Down: 17 | New: 14
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Jefferies upgraded ConocoPhillips (NYSE: COP) from Underperform to Hold with a price target of $40.00 (from $37.00).

Analyst Jason Gammel commented, "We are upgrading COP to Hold from Underperform on valuation considerations. COP has been amongst the most aggressive companies in the sector in cutting costs and we expect the company can balance its cash cycle at $49/bbl."

For an analyst ratings summary and ratings history on ConocoPhillips click here. For more ratings news on ConocoPhillips click here.

Shares of ConocoPhillips closed at $41.00 yesterday.

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