FBR Capital Upgrades Anadarko Petroleum (APC) to Outperform
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FBR Capital upgrades Anadarko Petroleum Corp. (NYSE: APC) to Outperform and raised their price target from $50 to $60.
The firm commented, With a whole host of short- and long-cycle catalysts forthcoming, as well as BP's discovery at Tiger, we believe the market will refocus on the industry potential of 60 BBoe in the subsalt. FBR introduced a risked $32/share 3P subsalt NAV in the GOM net to APC, valued at $8 NPV/bbl and $9.50/bbl F&D.
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