** RBC Capital Markets cuts price target on oil and gas producer ConocoPhillips COP.N to $115 from $120
** New PT still implies 34.3% upside to stock's last closing price
** Brokerage says although COP continues to show solid operational performance, there are near-term headwinds that have caused market angst
** Lowers its cash flow per share expectations for COP
** Management not overtly reaffirming the $10 bln minimum shareholder return commitment drew a lot of attention - RBC
** Brokerage, however, maintains COP is still an "attractive long-term option on oil" given its good balance sheet, asset quality and visible organic free cash flow growth over next few years
** 24 of 28 brokerages rate the stock "buy" or higher, and 4 "hold"; median PT is $115.11 - data compiled by LSEG
** As of last close, COP shares down 13.7% YTD
(Reporting by Sumit Saha in Bengaluru)
((Sumit.Saha@thomsonreuters.com;))
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