BofA Downgrades ConocoPhillips (COP), JPMorgan and Piper Sandler Lower PT

ConocoPhillips (NYSE:COP) is one of the 12 Best American Energy Stocks to Buy Now. On January 16, BofA Securities downgraded its rating on ConocoPhillips (NYSE:COP) from Neutral to Underperform with a price target of 102.BofAanalystKaleiAkaminepointedtoworriesaboutthecompanysrelativelyhighoilbreakevenpricethancompetitors.BofAbelievesthatConocoPhillips(NYSE:COP)needsoilpricesofaround102. BofA analyst Kalei Akamine pointed to worries about the company’s relatively high oil breakeven price than competitors. BofA believes that ConocoPhillips (NYSE:COP) needs oil prices of around 53 of WTI to cover its capital spending and dividend payments, which the research firm sees a ...