Canaccord Genuity Maintains a 'Buy' on Anadarko Petroleum (APC); Q1 Review; Reiterate as Top Large Cap Pick

Canaccord Genuity maintains a 'Buy' on Anadarko Petroleum (NYSE: APC) price target lowered $1 to $118.

Analyst, John Gerdes, said, "We are lowering our target to $118 per share due to minor model refinements. This quarter, Anadarko beat the high end of guidance 3% while operating/G&A expenses were 5% below our expectation. The results support our thesis that Anadarko’s onshore efficiencies drive value while offshore exploration offers significant upside. Our target does not include ~$17.50 per share of potential value from Mozambique."

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 $72.90 yesterday.

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