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Fly News Breaks for September 20, 2018
COP
Sep 20, 2018 | 06:35 EDT
As reported earlier, RBC Capital analyst Scott Hanold downgraded ConocoPhillips to Sector Perform from Outperform but raised his price target to $90 from $85. The analyst says that shareholders have already been rewarded by the management's model to deliver financial results, free cash flows, and capital to shareholders. With the stock up about 40% year-t0-date vs. 10%-15% peer average, Hanold says that peers have the potential for a greater rate of change as part of his otherwise "constructive" outlook on oil names.