Deutsche Bank Upgrades ConocoPhillips (COP) to Buy; Rebuilding the Gravy Train
Get Alerts COP Hot Sheet
Price: $129.28 --0%
Rating Summary:
25 Buy, 11 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
Rating Summary:
25 Buy, 11 Hold, 1 Sell
Rating Trend: Down
Today's Overall Ratings:
Up: 10 | Down: 11 | New: 6
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Deutsche Bank upgraded ConocoPhillips (NYSE: COP) to Buy with a price target of $90.00.
Deutsche analyst says, "Market consensus sees post-split ConocoPhillips as relatively expensive, when compared to Apache (NYSE: APA) / Valero (NYSE: VLO). But in reality, COP and APA’s assets & importantly scale are very different, and COP offers further split potential into US and Asian E&P if valuation is poor. E&P multiples have expanded since the mid-2011 split announcement. Downstream has a US-leading MLP-able NGL gathering system & worldscale chemicals business that both grow, self-financed. COP looks under-valued, with leverage to booming oil/refining markets."
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 $71.55 yesterday.
Deutsche analyst says, "Market consensus sees post-split ConocoPhillips as relatively expensive, when compared to Apache (NYSE: APA) / Valero (NYSE: VLO). But in reality, COP and APA’s assets & importantly scale are very different, and COP offers further split potential into US and Asian E&P if valuation is poor. E&P multiples have expanded since the mid-2011 split announcement. Downstream has a US-leading MLP-able NGL gathering system & worldscale chemicals business that both grow, self-financed. COP looks under-valued, with leverage to booming oil/refining markets."
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 $71.55 yesterday.
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