Morgan Stanley lowered the firm’s price target on ConocoPhillips (COP) to $108 from $117 and keeps an Overweight rating on the shares. The firm marked its 2026-27 oil price deck for strip as of January 7 in conjunction with its Q4 preview for the E&Ps, oil majors and Canadian producers. The firm expects “fairly clean” Q4 operational updates but lighter cash flow from price realizations, the analyst tells investors in the preview.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on COP:
- Western Midstream renegotiates natural-gas contracts in Delaware Basin
- ConocoPhillips downgraded to Neutral from Overweight at JPMorgan
- Nebius, Boeing, Kraft Heinz, 3M, ConocoPhillips Trending With Analysts
- ConocoPhillips downgraded to Underperform at BofA on valuation
- ConocoPhillips downgraded to Underperform from Neutral at BofA