3 Stocks to Watch on Monday: ConocoPhillips (COP), Time Inc (TIME) and Domino’s Pizza, Inc. (DPZ),

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Crude oil prices fell over the weekend over concerns from producing countries that they may not be able to reach an agreement to reduce output. Still, oil prices aren’t going into retreat, though futures are pointing to a possible pullback today after hitting fresh all-time highs again on Monday.

3 Stocks to Watch on Monday: ConocoPhillips (COP), Time Inc (TIME) and Domino's Pizza, Inc. (DPZ), The wild weekend is spilling into Monday, with ConocoPhillips (NYSE:COP), Time Inc (NYSE:TIME) and Domino’s Pizza, Inc. (NYSE:DPZ) showing up on our radar of stocks that investors should be keeping an eye on today.

Here’s what you need to know heading into Monday:

ConocoPhillips (COP)

COP stock is on the rise this morning after Goldman Sachs added shares to its Conviction List.

Analyst Neil Mehta sees “compelling” valuation in ConocoPhillips stock, which is why he upgraded it from “Neutral” to “Buy.” He gives COP a $54 price target, which implies about 20% in upside.

Mehta noted three main drivers, including attractive free cash flow among U.S. energy majors, solid capital allocation as far as dividends and share buybacks are concerned, and an attractive valuation thanks in part to its underperformance so far this year.

Moreover, Mehta likes ConocoPhillips’ chances of pulling through on its $5 billion to $8 billion planned asset sale by the end of next year.

COP shares are up well more than 1% in Monday’s premarket trade.

Time Inc (TIME)

TIME shares are up by double digits on Monday morning after the company rejected a buyout bid from billionaire Edgar Bronfman Jr.

Bronfman — along with Russian-born billionare Leonard Blavatnik and Israeli businessman Ynon Kreiz — offered $18 per share, which would’ve been a roughly 30% premium to Friday’s closing price.

The bid comes amid a lousy 2016 that has seen shares drop by about 12% before the bid rejection. However, TIME had been steadily gaining ground after a mixed earnings report that saw revenues decline slightly to miss expectations, but earnings that just climbed over Wall Street’s bar.

TIME shares were up about 14% in Monday’s early trade.

Domino’s Pizza, Inc. (DPZ)

DPZ has announced a wacky new way to deliver pizza, pasta and wings to its customers overseas.

The Japanese restaurants owned by the chain are testing out deliveries that will be carried out by reindeer as the company tries to get its customers into the holiday spirit. The restaurant is using animals from a reindeer farm in Hokkaido. Domino’s will track the movement of each reindeer using the company’s online GPS tracker.

If the test goes according to plan, maybe the company will attempt to pull the same stunt in other markets such as the U.S. Overall, Domino’s has been testing a variety of methods of delivering pizza in a bid to outdo its competitors in the creativity department.

Of course, the investing interest in DPZ right now is on the technical side of things. Namely, Domino’s continues to set all-time highs as part of a bounce off its 50-day moving average. While the stock is starting to look frothy, it hasn’t quite reached overbought levels yet, and could be good for a little more upside.

DPZ stock is up 55% year-to-date.


Article printed from InvestorPlace Media, https://investorplace.com/2016/11/3-stocks-to-watch-on-monday-conocophillips-cop-time-inc-time-and-dominos-pizza-inc-dpz/.

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