Canaccord Genuity Maintains a 'Buy' on Anadarko Petroleum (APC); Settlement with BP (BP) Removes Overhang
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Price: $18.50 -1.39%
Rating Summary:
21 Buy, 22 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
21 Buy, 22 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Buy' on Anadarko Petroleum (NYSE: APC) price target of $101.00.
Canaccord analyst, John Gerdes, said, "Anadarko’s settlement with BP (NYSE: BP) removes the overhang associated with the Macondo incident and should redirect investor focus towards APC’s superior deepwater exploration portfolio, strong liquidity position and improving onshore US capital productivity...We believe the company’s conservative spending translates into less potential downside risk to estimates and our target in an uncertain macro environment."
"APC is seeking to sell its Brazilian assets, which could garner ~$5 billion (~$10/share) assuming a value of ~$10/Boe of resource potential. The sale would be additive to our target as we currently include no value for the non-producing properties."
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 $78.01 yesterday.
Canaccord analyst, John Gerdes, said, "Anadarko’s settlement with BP (NYSE: BP) removes the overhang associated with the Macondo incident and should redirect investor focus towards APC’s superior deepwater exploration portfolio, strong liquidity position and improving onshore US capital productivity...We believe the company’s conservative spending translates into less potential downside risk to estimates and our target in an uncertain macro environment."
"APC is seeking to sell its Brazilian assets, which could garner ~$5 billion (~$10/share) assuming a value of ~$10/Boe of resource potential. The sale would be additive to our target as we currently include no value for the non-producing properties."
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 $78.01 yesterday.
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