Mizuho lowered the firm’s price target on ConocoPhillips (COP) to $132 from $142 and keeps a Neutral rating on the shares. The company’s acquisition of Marathon Oil (MRO) is accretive to near-term cash flows, but dilutive to its long-term inventory quality and depth, the analyst tells investors in a research note. The firm says the deal doesn’t materially alter its view of the investment case for ConocoPhillips.
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