19 Mar

UBS Raises Price Target for ConocoPhillips

WRITTEN BY Rabindra Samanta

UBS raises price target for ConocoPhillips

Yesterday, UBS increased its price target for ConocoPhillips (COP) by $1 to $70. On March 5, Morgan Stanley increased it by $1 to $78. Of the 22 analysts tracking ConocoPhillips, 41% recommend “hold,” 59% recommend “buy,” and none recommend “sell.”

UBS Raises Price Target for ConocoPhillips

“Buy” recommendations rise

Last month, “buy” recommendations rose for ConocoPhillips. One reason could be the Brent-WTI spread’s expansion in late January. ConocoPhillips is in an advantageous position if the Brent-WTI spread expands. However, with US crude oil production slowing, this spread has narrowedA rise in oil prices could push also boost COP.

Mean price target

Analysts’ mean price target for COP is $77.80, implying a ~15.1% upside based on its last closing price. In comparison, their price targets for top S&P 500 upstream holdings EOG Resources (EOG) and Occidental Petroleum (OXY) suggest an upside of 30.5% and 16.2%, respectively.

Latest articles

This year, Pfizer (PFE) stock has fallen 0.34% and Bristol-Myers Squibb (BMY) stock has fallen 6.48%. Both companies are focused on strengthening their position in the high-growth oncology and immunology markets. Let's take a closer look at each.

Walt Disney’s (DIS) latest movie, Toy Story 4, has reportedly broken records in the opening weekend with $118 million in sales. However, the opening weekend collection was behind analysts’ expectations of at least $150 million in the first weekend.

24 Jun

Will Home Depot’s Upward Momentum to Continue?

WRITTEN BY Rajiv Nanjapla

As of June 21, Home Depot (HD) was trading at $209.39, which implies a rise of 9.7% since the announcement of its first-quarter earnings on May 21. Also, the company was trading at a premium of 32.4% from its 52-week low of $158.09 and a discount of 2.8% from its 52-week high of $215.43.

On June 21, Aurora Cannabis (ACB) made an announcement that indicated that it will move towards higher margin vape products. In addition, the company also believes concentrates and edibles will command higher margins. In anticipation of this development, the company announced the expansion of its facility to capitalize on growth related to these segments.

Shares of Mondelēz International (MDLZ) are scaling new heights thanks to its stellar gains so far this year. Mondelēz stock is up 38.0% on a YTD (year-to-date) basis, and it closed at $55.25—just a shade lower than its 52-week high of $55.71—on June 21.

24 Jun

How Long Will Facebook's Libra Fuel Bitcoin Rally?

WRITTEN BY Mayur Sontakke, CFA, FRM

Ever since the news about Facebook’s (FB) cryptocurrency project broke, Bitcoin has rallied on the hope that Facebook’s entry in the space will help make cryptocurrencies mainstream. Facebook’s cryptocurrency will be called Libra and will be governed by an association with 28 founding members across industries.

172.31.38.64