Deutsche Bank Upgrades ConocoPhillips (COP) to Buy; Rebuilding the Gravy Train

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Deutsche Bank Upgrades PennyMac Mortgage Investment Trust (PMT) to Buy
• Citi Upgrades Zhejiang Dahua Technology (002236:CH) to Neutral
• JPMorgan Upgrades Amber Enterprises India Ltd (AMBER:IN) to Overweight