ConocoPhillips price target raised to $133 from $132 at Wells Fargo

Wells Fargo analyst Sam Margolin raised the firm’s price target on ConocoPhillips (COP) to $133 from $132 and keeps an Overweight rating on the shares. The firm notes the company’s results yield no change to its positive thesis. 45% return of capital goal implies in-line $4B buyback at $60 Brent. ConocoPhillips is positioned for peer-leading regular dividend growth through the end of the decade and beyond, Wells adds.