ConocoPhillips price target raised to $146 from $143 at Bernstein

Bernstein raised the firm’s price target on ConocoPhillips to $146 from $143 and keeps an Outperform rating on the shares. At the end of December, the firm hosted ConocoPhillips CEO Ryan Lance and the Investor Relations team for a large number of meetings in Boston. In a nutshell, the company’s rationale for the trip was to remind investors that two large cap E&P equities are highly likely to delist in 2024 and that ConocoPhillips is a natural home for holders of those equities in contrast to inheriting an integrated position. Bernstein would agree with that logic and recommends ConocoPhillips as its top E&P idea to start 2024.