ConocoPhillips (COP) EPS, PT Raised by Jefferies (JEF)

Shares of ConocoPhillips (NYSE:COP) has been moving up steadily over the last year, and Jefferies (NYSE:JEF) continues to like what it sees, raising the price target and EPS estimate on the company.

Jefferies increased its price target to $87.50. That new target suggests an upside of over 11 percent against the stock’s Thursday closing price.

Specifically noted by Jefferies was ConocoPhillips potential increase in profits from the divestation of some of its downstream assets.

Jefferies reiterated its “Buy” rating on COP, which closed Thursday at $79.70, gaining $1.16, or 1.48 percent.