Canaccord Genuity Reiterates a 'Buy' on Anadarko Petroleum (APC); Raising Price Target of Our Top Large Cap Pick
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Price: $19.27 +0.10%
Rating Summary:
21 Buy, 22 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
Rating Summary:
21 Buy, 22 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 20
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Canaccord Genuity reiterates a 'Buy' on Anadarko Petroleum (NYSE: APC) price target raised from $107 to $122.
Analyst, John Gerdes, said, "We are raising our target due to a ~10% higher liquids allocation with no change in capital intensity, almost 10% lower per unit operating expense and the beneficial resolution to the Algerian tax dispute. Remarkably, Anadarko’s onshore US business is ~30% more capital productive on an equivalent basis and ~15% more productive on an oil-weighted basis than the group. Additionally, Anadarko offers world-class deepwater exploration. Our target does not include ~$20 per share of contingent value from Mozambique/Brazil divestitures."
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 $83.09 yesterday.
Analyst, John Gerdes, said, "We are raising our target due to a ~10% higher liquids allocation with no change in capital intensity, almost 10% lower per unit operating expense and the beneficial resolution to the Algerian tax dispute. Remarkably, Anadarko’s onshore US business is ~30% more capital productive on an equivalent basis and ~15% more productive on an oil-weighted basis than the group. Additionally, Anadarko offers world-class deepwater exploration. Our target does not include ~$20 per share of contingent value from Mozambique/Brazil divestitures."
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 $83.09 yesterday.
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