Deutsche Bank Upgrades Anadarko Petroleum (APC) to Buy

October 13, 2016 6:57 AM EDT
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Price: $70.72 -0.73%

Rating Summary:
    32 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 10
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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.

For an analyst ratings summary and ratings history on Anadarko Petroleum click here. For more ratings news on Anadarko Petroleum click here.

Shares of Anadarko Petroleum closed at $63.93 yesterday.

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