Goldman Sachs Downgrades Apache Corp. (APA) to Neutral, Permian Drivers Pushed Back

Goldman Sachs downgraded Apache Corp. (NYSE: APA) from Buy to Neutral with a price target of $126 (down from $127).

The firm notes while the Permian potential remains vast, the pace of of growth near term is trending below what they believe can uniquely drive material multiple expansion.

Goldman is downgraded to Neutral because they see just average upside to peers in part because shares have performed well YTD and they see material impact of Permian growth on total company growth pushed back into late 2012/early 2013.

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 $108.98 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• APA Corp. (APA) PT Raised to $49 at Wells Fargo
• Travel Food Services (TRAVELFO:IN) PT Raised to INR1,600 at ICICI Securities
• Va Tech Wabag Ltd. (VATW:IN) PT Raised to INR2,410 at ICICI Securities