ConocoPhillips price target raised to $140 from $135 at RBC Capital

RBC Capital raised the firm’s price target on ConocoPhillips to $140 from $135 and keeps an Outperform rating on the shares. The firm sees “value” in the company’s “consistency”, stating that its large and diverse asset base provides optionality in locations and commodity to manage commodity price volatility while creating shareholder value. ConocoPhillips’ robust balance sheet also grants a competitive edge in enhancing shareholder value throughout various commodity price cycles, the analyst tells investors in a research note.