Jefferies Reiterates Buy on Anadarko Petroleum (APC) Following Investor Meetings

Jefferies maintained a Buy rating and $57.00 price target on Anadarko Petroleum (NYSE: APC) following the company's investor meetings.

Analyst Jonathan Wolff commented, "We hosted investor meetings for APC management this week. Management's message centered around its capital efficient model and improving financial position. APC's budget is aligned with cash inflows helped by a reduced dividend, lower G&A and asset sales. Three 'anchor' asset positions (DJ Basin, Permian, DW GOM) in which APC operates and controls the infrastructure ('Hub and Spoke') represent the best source of incremental returns."

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 $52.40 yesterday.

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