Scotiabank has revised its price target for ConocoPhillips (COP, Financial), reducing it from $115 to $95. Despite this adjustment, the firm maintains a Sector Perform rating on the stock. This change is part of a broader reevaluation of ratings across the U.S. Integrated Oil, Refining, and Large Cap Exploration and Production (E&P) sectors.
The analyst overseeing this update, Paul Cheng, highlighted the ongoing review aimed at aligning the firm's projections with current market conditions within the energy sector.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 27 analysts, the average target price for ConocoPhillips (COP, Financial) is $127.97 with a high estimate of $165.00 and a low estimate of $95.00. The average target implies an upside of 53.64% from the current price of $83.29. More detailed estimate data can be found on the ConocoPhillips (COP) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, ConocoPhillips's (COP, Financial) average brokerage recommendation is currently 1.8, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for ConocoPhillips (COP, Financial) in one year is $116.95, suggesting a upside of 40.41% from the current price of $83.29. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the ConocoPhillips (COP) Summary page.
