Citi Cuts ConocoPhillips’ (NYSE:COP) PT but Maintains Buy

ConocoPhillips (NYSE:COP) is one of the 10 stocks that Jim Cramer and analysts are watching. Citi cut its price target on the stock from $140 to $115 but kept a Buy rating on June 11.

The stock has dropped to its lowest level in four years compared to the U.S. energy index, which has reversed the gains from its major acquisitions. The firm views this decline as a chance to invest in a company that can stay strong and stand out, while OPEC’s latest approach challenges others. Citi continues to see strong upside in the shares.

An underground network of pipelines transporting oil through an expansive terrain.

During the June 9 episode, Cramer recommended to “sell” ConocoPhillips (NYSE:COP) and buy another, as he said:

“I like your idea. I like your idea. I like your idea. I think Lily’s at a great level, and Conoco is not nearly as all the oils go to like 4 or 5% yield, this is only three and a half. I want you to sell the Conoco and buy the Lilly. I like that idea.”

ConocoPhillips (NYSE:COP) is involved in the exploration, production, transportation, and marketing of crude oil, natural gas, LNG, and related products. The company’s operations span both unconventional and conventional assets, including global LNG projects, oil sands, and a broad range of exploration prospects.

While we acknowledge the potential of COP as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.