Conoco (COC) - The biggest U.S. IPO ever Message Board

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Gold/Mining/Energy : Conoco (COC) - The biggest U.S. IPO ever

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To: Dennis Roth who wrote (112)	3/23/2006 8:27:37 AM
From: aerosappy	Read Replies (1) of 123

(MarketWatch) -- Oil companies ConocoPhillips and Marathon Oil were both upgraded by Prudential Equity Group as part of a wider review of the sector. Conoco was upgraded to overweight from neutral weight, with Prudential citing its valuation of 6 times estimated 2006 earnings. Marathon was moved to neutral weight from underweight on the view the refining environment will drive strong earnings. Prudential is raising its 2006 crude oil price forecast to $61.55 a barrel from $55/barrel, while its lowering its 2006 natural gas price forecast to $8.15 per million cubic feet, from $9.75/mcf. "In the shorter term, we believe that bloated storage levels resulting from warm weather (including the warmest January on record since 1895) will keep natural gas prices weak, well below heat-content parity with oil prices," it said

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