Deutsche Bank Miantains Hold Rating On ConocoPhillips

According to Deutsche Bank, ConocoPhillips COP Hold rating is maintained. Deutsche Bank said that the snap split announcement from ConocoPhillips almost seemed to take the company itself by surprise. “We estimate NAV at $90 based on a bottom-up analysis of future cash flows with ROCE/WACC. With a 10% risk discount we get $81 value. Our analysis of ROCE/WACC yields a target P/E of 10x on our mid-cycle EPS estimate of $7.90 = $79 PT.” ConocoPhillips closed yesterday at $75.61.