ConocoPhillips price target raised by $10 at BMO

ConocoPhillips (COP +0.7%) works its way higher after BMO Capital raises its price target for the shares to $80 from $70 and boosts its EPS estimates through 2016, citing improving upstream margins.

In modeling COP's cash generation to test its ability to grow upstream margins at its target of 3%-5% compound annual growth rate to 2017, BMO says its analysis provides for just 2%-3% growth but sees upside if COP can grow its Lower 48 unconventional volumes faster than expected - highly possible given COP's successful development program, the firm says, as resources already have been substantially increased.

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  • sethmcs
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    Don't like what someone has to say complain to Big Brother.....
    20 Aug 2014, 05:06 PM Reply Like
  • Tueffelhund85
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    Yes, call the police if something someone says offends you. A country of losers.
    20 Aug 2014, 07:18 PM Reply Like
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