RBC Capital Lifts ConocoPhillips (COP) Price Target Buoyed by Underlying Growth

ConocoPhillips (NYSE:COP) is one of the most profitable energy stocks to buy right now. On October 13, analysts at RBC Capital reiterated an ‘Outperform’ rating on the stock and raised the price target to $118 from $113.

The price target hike comes as the research firm expects the energy giant to deliver earnings per share and cash flow per share above the company’s guidance. RBC Capital expects EPS to range between $1.35 and $1.40 a share with cash flow of $5.2 billion.

While the company is expected to release its 2026 guidance early next year, RBC Capital expects it to project organic growth of 1% to 2%. It also expects capital expenditure to average $12 billion with $8.5 billion in shareholders’ return.

ConocoPhillips (NYSE:COP) is a global exploration and Production Company that finds, develops, and produces oil and natural gas. Its activities include exploring for new resources, maximizing production, and responsibly developing energy sources worldwide. The company produces and markets crude oil, natural gas, natural gas liquids, and liquefied natural gas.

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Disclosure: None. This article is originally published at Insider Monkey.