JP Morgan Maintains Neutral Rating for ConocoPhillips: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
JP Morgan has maintained a Neutral rating on ConocoPhillips (NYSE:COP) but lowered its price target from $153.00 to $141.00. ConocoPhillips' shares are currently trading up 0.55% at $111.46. The new price target suggests a potential 26.5% increase from the current price. ConocoPhillips is an independent oil and gas company with significant production and reserves.
December 08, 2023 | 5:00 pm
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JP Morgan maintains a Neutral rating on ConocoPhillips and lowers the price target to $141, indicating a potential 26.5% upside from the current price.
The maintenance of a Neutral rating by JP Morgan suggests no significant change in the company's outlook, while the reduction in price target could be seen as a slight negative. However, the new target still implies a substantial upside, which may balance out the negative impact of the target cut. The stock's slight increase in the last 24 hours indicates a relatively stable market reaction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100