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One Reason Why ConocoPhillips (COP) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of ConocoPhillips (COP) are advancing 0.71% to $42.60 in early afternoon trading on Monday as JPMorgan upgraded the stock to "neutral" from "sell."

The firm has a $44 price target on shares of the Houston-based exploration and production company.

The higher rating is due to relative valuation, Barron's noted. The stock has been a relative "laggard" year-to-date as it's down 9% compared to the integrated oil companies group average of up 11%, the firm said.

"We have taken ConocoPhillips to Neutral from Underweight...despite the fact that it has no downstream...


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