-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
Our 12-month target price of $128, raised $11, reflects a combination of relative valuation and DCF model analyses. On a relative basis, we apply a 5.5x multiple of enterprise value to projected 2027 EBITDA, about in line with COP's historical forward average. This approach yields a value of $100 per share. Meanwhile, our DCF model, applying medium-term free cash flow growth of 5%, terminal value of 2.5%, discounted at a WACC of 6.1%, yields intrinsic value of $156 per share. We lift our 2026 EPS estimate by $3.40 to $8.51 and 2027's by $0.14 to $7.31. COP should benefit in the near term from the rise in crude oil prices, although we see more risk in 2027 given the potential for a 2026 price spike to weigh on the global economy. The Willow project in Alaska is still on track for first oil in 2029, and could be coming at a welcome time.