ConocoPhillips Gains UBS Price Target Boost

UBS raised its price target for ConocoPhillips to $130 from $120 on Feb. 8 and maintained a Buy rating, citing the company’s project pipeline. ConocoPhillips reported an EPS miss and higher-than-expected capex this quarter due to lower output, while expecting to reach halfway construction on the Willow project this season and holding over $10 billion in Venezuelan claims.