ConocoPhillips price target lowered to $160 from $170 at Truist

Truist analyst Neal Dingmann lowered the firm’s price target on ConocoPhillips to $160 from $170 and keeps a Buy rating on the shares. The firm is anticipating a slight Q1 sequential earnings and free cash flow decrease driven by lower quarterly prices, but also sees a solid earnings ramp and an even bigger free cash flow ramp for the remainder of the year, the analyst tells investors in a research note. Truist also continues to suggest that ConocoPhillips’ 2025 results could be notably higher than consensus, resulting in the Street raising assumptions in the coming days and weeks.