Goldman Sachs Downgrades ConocoPhillips (COP) to Sell

June 20, 2012 7:11 AM EDT
Get Alerts COP Hot Sheet
Price: $49.86 --0%

Rating Summary:
    14 Buy, 12 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 28 | Down: 28 | New: 23
Trade COP Now!
Join SI Premium – FREE
Goldman Sachs downgraded ConocoPhillips (NYSE: COP) from Neutral to Sell with a price target of $58 in a sector call.

The firm sees greater upside elsewhere in the integrated/domestic oil and refiner coverage universe.

"Conoco shares continue to trade more like a defensive super major rather than a somewhat higher-beta domestic oil/E&P post the spin-off of its downstream assets," the analyst notes. While shares have held up better than others, they no see better risk/reward elsewhere in the sector.

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 $55.64 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Downgrades, Hot Downgrades

Related Entities

Goldman Sachs

Add Your Comment