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ConocoPhillips (COP) Stock Higher, JPMorgan Upgrades

NEW YORK (TheStreet) -- Shares of ConocoPhillips (COP) were increasing in mid-morning trading on Monday as JPMorgan upped its stock rating to "overweight" from "neutral."

The firm also hiked its price target on the oil and natural gas exploration and production company to $51 from $44.

ConocoPhillips' dividend growth potential through 2020 is significantly greater than its peers at 8.3% vs. 7.2%, JPMorgan said.

"...We now believe that valuation is compelling, with the potential to 'walk and chew gum' (pay down debt and buy back stock," the firm added in an...


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