BUZZ-JP Morgan cuts ConocoPhillips PT, sees weaker Q4 cash flow

Reuters01-13
BUZZ-JP Morgan cuts ConocoPhillips PT, sees weaker Q4 cash flow

** J.P. Morgan cuts PT on oil and gas producer ConocoPhillips COP.N to $98 from $102

** New PT represents a 2.6% upside to stock's last close

** Says COP's Q4 cash flow is expected to fall due to lower commodity prices, reduced production, smaller Australia Pacific LNG distributions and no tax benefits

** "We do expect Venezuela to be a key topic for the call given COP's outstanding liability that stands at $12 billion as well as President Trump's commentary regarding the potential treatment of past losses at last week's meeting with oil company executives" - Brokerage

** 24 of 30 brokerages rate stock "buy" or higher and 6 "hold"; median PT is $111 - data compiled by LSEG

** In 2025, COP fell 5.6%

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))

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