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COP

ConocoPhillips

$46.46

0.71 (1.55%)

11:06
11/28/16
11/28
11:06
11/28/16
11:06

Goldman says buy ConocoPhillips ahead of 'achievable' asset sales

Goldman Sachs upgraded ConocoPhillips (COP) to Buy from Neutral, saying that the company has multiple positive catalysts and the stock is attractive following its weak performance this year. The firm also added the stock to its Conviction List. CATALYSTS: After slashing its dividend by 66%, ConocoPhillips should buy back $1B of its stock from 2017-2018 and grow its annual dividend by 5%-10% annually during the same period, wrote Goldman analyst Neil Mehta. Moreover, although investors are skeptical about the company's ability to sell $5B-$8B of assets by the end of 2017, the goal is "achievable," given its successful sale of assets in the past, Mehta believes. Finally, oil prices should rise in the medium term, and ConocoPhillips should be able to increase its production every year through the end of this decade, the analyst believes. VALUATION, TARGET: ConocoPhillips' valuation is compelling, especially after it underperformed its peers by 22% so far this year, wrote Mehta, who raised his price target on the stock to $54 from $47. PRICE ACTION: In morning trading, ConocoPhillips rose 1% to $46.22 per share.

  • 13

    Dec

COP ConocoPhillips
$46.46

0.71 (1.55%)

11/15/16
LYON
11/15/16
DOWNGRADE
Target $47
LYON
Underperform
ConocoPhillips downgraded to Underperform at CLSA
As previously reported, CLSA downgraded ConocoPhillips to Underperform and maintained its $47 price target. Analyst Asit Sen said ConocoPhillips' lack of Delaware/Midland exposure is a significant negative when compared to peers and prefers more aggressive moves to lower debt instead of the $3B announced buyback.
11/15/16
11/15/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. FedEx (FDX) downgraded to Hold from Buy at Stifel with analyst David Ross citing valuation, as well as concerns about the "still-fragile global economic environment" and the integration of its TNT acquisition. 2. Abercrombie & Fitch (ANF) downgraded to Underperform at FBR Capital while the firm also downgraded American Eagle (AEO) to Market Perform from Outperform. 3. Amplify Snack Brands (BETR) downgraded to Perform from Outperform at Oppenheimer and to Neutral from Outperform at Credit Suisse. 4. BP (BP) downgraded to Outperform from Buy at CLSA while the firm also downgraded ConocoPhillips (COP) to Underperform from Outperform. 5. Cheesecake Factory (CAKE) downgraded to Hold from Buy at Maxim with analyst Stephen Anderson saying he sees the company's above-peer comps, market share gains, and solid new unit development prospects as being priced in after the 22% jump in the stock from its late October low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
11/28/16
GSCO
11/28/16
UPGRADE
GSCO
Conviction Buy
ConocoPhillips upgraded to Conviction Buy from Neutral at Goldman
Goldman analyst Neil Mehta upgraded ConocoPhillips to Conviction Buy and raised its price target to $54 from $47. Mehta said ConocoPhillips offers the most attractive free cash yield among US majors/E&P and believes the company will grow its production through the ned of the decade. Further, the analyst expects capex to stay low and expects capital returns to grow in 2017-18, with 4%-10% dividend growth, and a $1B/yr buyback.
11/28/16
11/28/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Deere (DE) upgraded to Neutral from Underweight at Piper Jaffray with analyst Brett Wong saying investors will likely continue to pay "lofty multiples" since a bottom of the cycle is close. 2. ConocoPhillips (COP) upgraded to Conviction Buy from Neutral at Goldman with analyst Neil Mehta saying ConocoPhillips offers the most attractive free cash yield among U.S. majors/E&P and believes the company will grow its production through the ned of the decade. 3. Comerica (CMA) upgraded to Buy from Hold at Jefferies with analyst Ken Usdin saying the company's earnings are likely to benefit more than peers from higher short-term interest rates and a potentially lower Federal tax rate. 4. DuPont Fabros (DFT) upgraded to Outperform from Neutral at Baird with analyst David Rodgers citing its future development opportunity, solid corporate execution, and valuation. 5. Horizon Pharma (HZNP) upgraded to Buy from Neutral at Citi analyst Liav Abraham saying the risk/reward as favorable into the upcoming pivotal data for Actimmune in Friederich's Ataxia. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

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$10.62

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AXP

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Mattel

$26.10

0.43 (1.68%)

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NICE

NICE Systems

$69.04

-1.27 (-1.81%)

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KHC

Kraft Heinz

$96.65

9.37 (10.74%)

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Unilever; also tag UL

$48.79

6.47 (15.29%)

19:22
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Kraft Heinz withdraws proposal to acquire Unilever »

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Unilever; also tag UN

$48.53

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Berkshire Hathaway

$252,838.00

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Berkshire Hathaway

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MNTA

Momenta

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RSPP

RSP Permian

$42.28

-0.54 (-1.26%)

12:48
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RSP Permian to hold a special shareholder meeting »

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AXP

American Express

$79.71

0.2 (0.25%)

, MAT

Mattel

$26.10

0.43 (1.68%)

04:55
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02/19
04:55
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04:55
Conference/Events
Toy Industry Association to hold fair »

International Toy Fair…

AXP

American Express

$79.71

0.2 (0.25%)

MAT

Mattel

$26.10

0.43 (1.68%)

HAS

Hasbro

$98.50

0.86 (0.88%)

COST

Costco

$175.86

0.11 (0.06%)

AMZN

Amazon.com

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QUNR

Qunar

$30.88

-0.14 (-0.45%)

15:28
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Qunar to host special shareholder meeting »

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REG

Regency Centers

$69.75

0.23 (0.33%)

, EQY

Equity One

$31.29

0.16 (0.51%)

15:21
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Equity One to host special shareholder meeting »

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Regency Centers

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0.23 (0.33%)

EQY

Equity One

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EQY

Equity One

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Regency Centers

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Regency Centers to host special shareholder meeting »

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Equity One

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Regency Centers

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WIN

Windstream

$7.05

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EarthLink

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EarthLink to host special shareholder meeting »

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EarthLink

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EarthLink

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15:09
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Windstream to host special shareholder meeting »

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HNR

Harvest Natural

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PH

Parker-Hannifin

$153.89

-0.52 (-0.34%)

, CLC

Clarcor

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Clarcor to host special shareholder meeting »

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Parker-Hannifin

$153.89

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CLC

Clarcor

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AZN

AstraZeneca

$29.16

0.4 (1.39%)

, BAYRY

Bayer

$113.29

0.05 (0.04%)

04:55
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Conference/Events
American Society of Clinical Oncology to hold a symposium »

2017 Genitourinary…

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AstraZeneca

$29.16

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BAYRY

Bayer

$113.29

0.05 (0.04%)

BMY

Bristol-Myers

$54.59

0.31 (0.57%)

ESALY

Eisai

$54.40

0.205 (0.38%)

EXEL

Exelixis

$23.12

0.47 (2.08%)

GHDX

Genomic Health

$29.11

0.61 (2.14%)

MRK

Merck

$65.39

0.13 (0.20%)

MYGN

Myriad Genetics

$18.62

1.35 (7.82%)

NVS

Novartis

$77.20

0.47 (0.61%)

OPK

OPKO Health

$8.81

0.06 (0.69%)

PFE

Pfizer

PGNX

Progenics

$10.62

0.08 (0.76%)

SNY

Sanofi

$43.16

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MDT

Medtronic

$78.88

0.89 (1.14%)

, NVO

Novo Nordisk

$35.46

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Kenes International Organizers to hold a conference »

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MDT

Medtronic

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NVO

Novo Nordisk

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RHHBY

Roche

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ABT

Abbott

$44.69

0.49 (1.11%)

SNY

Sanofi

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LLY

Eli Lilly

$80.39

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DXCM

Dexcom

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JNJ

Johnson & Johnson

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AXP

American Express

$79.71

0.2 (0.25%)

, MAT

Mattel

$26.10

0.43 (1.68%)

04:55
02/18/17
02/18
04:55
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Conference/Events
Toy Industry Association to hold fair »

International Toy Fair…

AXP

American Express

$79.71

0.2 (0.25%)

MAT

Mattel

$26.10

0.43 (1.68%)

HAS

Hasbro

$98.50

0.86 (0.88%)

COST

Costco

$175.86

0.11 (0.06%)

AMZN

Amazon.com

$845.07

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PKY

Parkway

$21.58

0.08 (0.37%)

18:20
02/17/17
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18:20
Hot Stocks
Parkway to sell 49% interest in Houston Greenway portfolio for $512.1M »

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VIA

Viacom

$47.00

-0.2 (-0.42%)

, VIAB

Viacom

$43.99

-0.17 (-0.38%)

18:15
02/17/17
02/17
18:15
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18:15
Periodicals
Paramount CEO Brad Grey to leave studio as early as next week, Reuters says »

Brad Grey, chairman and…

VIA

Viacom

$47.00

-0.2 (-0.42%)

VIAB

Viacom

$43.99

-0.17 (-0.38%)

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MNTA

Momenta

, PFE

Pfizer

18:03
02/17/17
02/17
18:03
02/17/17
18:03
Hot Stocks
Momenta: Sandoz partner Pfizer receives FDA warning letter »

Momenta Pharmaceuticals…

MNTA

Momenta

PFE

Pfizer

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CI

Cigna

$143.56

-1.77 (-1.22%)

, ANTM

Anthem

$160.25

-3.52 (-2.15%)

17:53
02/17/17
02/17
17:53
02/17/17
17:53
Periodicals
Cigna claims Anthem attempted to harm its business, Bloomberg says »

Cigna (CI) has accused…

CI

Cigna

$143.56

-1.77 (-1.22%)

ANTM

Anthem

$160.25

-3.52 (-2.15%)

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SCMP

Sucampo

$11.80

0.05 (0.43%)

, NILE

Blue Nile

17:50
02/17/17
02/17
17:50
02/17/17
17:50
Hot Stocks
Sucampo to replace Blue Nile in the S&P 600 as of February 23 open »

Sucampo Pharmaceuticals…

SCMP

Sucampo

$11.80

0.05 (0.43%)

NILE

Blue Nile

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VRML

Vermillion

$1.75

0.08 (4.79%)

17:39
02/17/17
02/17
17:39
02/17/17
17:39
Hot Stocks
Jack Schuler raises stake in Vermillion to 19.6% »

As of the date hereof,…

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