Citi Lowers ConocoPhillips (COP) Price Target, Keeps Buy Rating

ConocoPhillips (NYSE:COP) is one of the 10 Best Oil and Gas Stocks to Buy Now. On June 11, Citi reduced its price target for ConocoPhillips (NYSE:COP) from $140 to $115 while keeping a “Buy” rating.

Despite major acquisitions aimed at transformation, ConocoPhillips (NYSE:COP) has performed poorly since early 2024 and has fallen to four-year lows compared to the US energy index. This underperformance has wiped out the gains the stock made through strategic acquisitions.

Citi Lowers ConocoPhillips (COP) Price Target, Keeps Buy Rating

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

However, Citi analysts believe this presents a “value opportunity” as ConocoPhillips (NYSE:COP) is positioned to stay resilient even as OPEC’s new strategies create challenges for many in the energy sector. Citi still sees significant upside potential for the stock.

ConocoPhillips (NYSE:COP) is one of the world’s largest independent oil and gas exploration and production companies based on production and proved reserves.

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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