Oppenheimer Sees Anadarko Petroleum (APC) Moving to Triple Digits

Oppenheimer raised its price target on Anadarko Petroleum (NYSE: APC) earlier from $90 to $100 while reiterating a Outperform rating.

The price target hikes reflects improved financial outlook, higher production guidance, continued exploration success and significant hydrocarbon resource potential, the firm said.

"Anadarko remains the undisputed industry leader in exploration with an unparalleled value creation from the drillbit," the analyst commented.

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 $82.55 yesterday.

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