Deutsche Bank Downgrades Apache Corp. (APA) to Hold

December 10, 2012 9:12 AM EST
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Price: $62.22 -1.1%

Rating Summary:
    15 Buy, 27 Hold, 3 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Deutsche Bank downgraded Apache Corp. (NYSE: APA) from Buy to Hold with a price target of $90.00 (from $110.00).

The firm comments, "At APA, we have defended based on valuation despite operating trends moving in the wrong direction. We do not expect a meaningful improvement in 4Q12 operating trends and see some downside to street expectations surrounding 2013. Current valuation suggests much of this is in the price."

For an analyst ratings summary and ratings history on Apache Corp. click here. For more ratings news on Apache Corp. click here.

Shares of Apache Corp. closed at $76.51 yesterday.

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