Citi is raising their price target on shares of ConocoPhillips to $100 from $85 a share, saying the re-focused company that has emerged over the last two years is well positioned for the next phase of the oil industry’s cycle. Citi says COP’s stake in North American shale gives them more flexibility. Citi also likes FedEx on expectations it will announce a double-digit percentage increase to its dividend before it reports Q2 results in June. Citi says share buybacks will also continue to play a key role for FedEx as the company works to “become a more important part of the investment case as cash flow generation improves.” BMO Capital Markets is also reiterating its’ guidance on Salesforce.com and says it is raising its full-year guidance and reiterating its’ BUY rating on the shares. Ruben Ramirez reports from the NYSE.
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