Barclays Lifts PT on ConocoPhillips (COP) to $128 From $118 – Here’s Why

<p>ConocoPhillips (NYSE:<a href="https://finance.yahoo.com/quote/COP">COP</a>) is one of <a href="https://www.insidermonkey.com/blog/10-best-oil-stocks-to-buy-right-now-2-1716274/">the best oil stocks to buy right now</a>. On March 13, Barclays lifted the price target on ConocoPhillips (NYSE:COP) to $128 from $118 and reiterated an Overweight rating on the shares, lifting 2026 oil price estimates on the Iran war.</p>
<p>ConocoPhillips (NYSE:COP) also received a rating update from Piper Sandler on March 12. The firm raised the price target on the stock to $154 from $111 and reaffirmed an Overweight rating on the shares, stating that it is revising price targets and forward estimates on the back of a $5.00/bbl increase in its mid-cycle WTI price forecast, driven by the lasting effects of the conflict in Iran. Piper stated that although the duration of outages in the Middle East remains highly uncertain, its commodity macro team expects that 2026 crude balances will tighten by about 2.0 Mb/d compared to previous expectations, with lingering impacts/risk premiums and global resource tightening raising the bar on future investment.</p>
<p>ConocoPhillips (NYSE:COP) is an exploration and production company that explores, transports, produces, and markets crude oil, natural gas, and bitumen. It operates through the following geographical segments: Alaska, Lower 48, Canada, Europe, the Middle East, and North Africa, Asia Pacific, and Other International.</p>
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