Raymond James Raises ConocoPhillips Price Target, Reiterates Outperform Rating

Raymond James Financial has increased its price target for ConocoPhillips (NYSE:COP) stock from $113.00 to $118.00, while simultaneously reiterating an "outperform" rating. This adjustment suggests a potential upside of 8.45% for the energy producer's shares. The firm's positive outlook aligns with a broader analyst consensus. ConocoPhillips currently holds a "Moderate Buy" rating among analysts, with an average target price of $115.00. This upgrade from a notable firm like Raymond James signals a bullish sentiment for COP, potentially attracting increased investor interest.