Deutsche Bank Upgrades Anadarko Petroleum (APC) to Buy
- Wall Street declines as some post-election gainers reverse
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shows clemency to Manning, intelligence analyst behind leaks
- Big 5 Sporting Goods (BGFV) Q4 Comps Rise 3.1%; Guides Q4 Above the Street
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Deutsche Bank upgraded Anadarko Petroleum (NYSE: APC) from Hold to Buy with a price target of $77.00 (from $64.00). Analyst Ryan Todd highlighted its differentiated growth.
"With the recent FCX transaction, APC addressed our primary concerns (funding profile, growth, leverage), emerging as a relatively differentiated, large-cap growth vehicle. We see APC's best-in-class US onshore assets as underpinning top-quartile crude volume growth within cash flow, with conventional/midstream assets providing an advantaged source of funding, while onshore resource/volume revisions, underappreciated offshore assets and asset sales offer potential further catalysts. Despite recent performance, we see attractive value with APC at a 10%-15% discount to large-cap growth names," said Todd.
Shares of Anadarko Petroleum closed at $63.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: JPMorgan Downgrades OneMain (OMF) to Neutral
- UPDATE: Leerink Partners Upgrades AmerisourceBergen (ABC) to Outperform
- Zendesk (ZEN) Falls as JMP Checks Suggest Q4 Bookings May Disappoint
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS View, Upgrades
Related EntitiesDeutsche Bank, Crude Oil
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!