Goldman Sachs Downgrades ConocoPhillips (COP) to Sell
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Price: $62.53 -0.41%
Rating Summary:
5 Buy, 8 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
5 Buy, 8 Hold, 5 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade COP Now!
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, with a 52 week range of $50.62-$80.13.
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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, with a 52 week range of $50.62-$80.13.
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