Jefferies Starts Apache Corp. (APA) at Underperform

Jefferies initiates coverage on Apache Corp. (NYSE: APA) with a Underperform rating and a price target of $53.00.

Analyst Jonathan Wolff comments, "Our caution on APA shares centers on our view of limited current visibility for economic re-investment opportunities, the lack of a ‘crown-jewel’ asset outside of the Permian (25% of 3Q14 production). The current share price is above the value in our RAAV model."

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 $68.37 yesterday.

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