ConocoPhillips initiated with a Hold at Truist

Truist analyst Gabe Daoud initiated coverage of ConocoPhillips (COP) with a Hold rating and $124 price target The company is the largest US independent E&P with core assets located in the Permian, Alaska, Montney, EMEA, and APAC, alongside attractive LNG equity interests, creating one of the best upstream portfolios within thefirm’s coverage, the analyst tells investors in a research note. Truist adds however that the stock has outperformed, leaving minimal upside to the firm’s price target