Oppenheimer Reiterates Outperform Rating On ConocoPhillips

According to Oppenheimer, ConocoPhillips COP Outperform rating is reiterated. Oppenheimer said that it reiterates its Outperform investment rating on COP shares and raise its 12-month price target to $90 from $82. “COP shares were up 11% YTD at yesterday's close, compared with 6.7% for peers and 4.1% for the S&P 500. COP traded at 9% off the 12-month high and 49% above the low, compared with 10% and 34% for peers and 4.5% and 26% for the S&P 500.” ConocoPhillips closed yesterday at $75.61.