Raymond James raises ConocoPhillips price target to $145 on oil strip

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Raymond James has increased its price target for ConocoPhillips (NYSE:COP) to $145 from $118, maintaining an Outperform rating due to a higher oil strip. The firm’s updated estimates reflect current market conditions and production impacts from the Qatar disruption, projecting earnings of $1.70 per share for Q1 2026. ConocoPhillips is also reportedly considering selling assets in the Permian Basin and has received other analyst updates, including a $157 price target from Piper Sandler and new coverage from Truist Securities.

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