UPDATE - Global Hunter Securities Initiates Coverage on Apache (APA) with a Buy; Currently Undervalued
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Price: $32.36 +0.97%
Rating Summary:
19 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
19 Buy, 24 Hold, 5 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
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UPDATE - Global Hunter Securities initiates coverage on Apache (NYSE: APA) with a Buy. PT $130.
Analyst, John Malone, said, "We believe that Apache is undervalued on an NAV basis and is not receiving credit for its growth potential. While we appreciate the market’s caution surrounding political risks in some of APA’s core areas, we think these concerns are overblown. An aggressive capex budget of $9.5B in 2012 has also raised eyebrows, but as most of that is to be spent on relatively low hanging fruit in US liquids-rich plays, it looks like a good move to us. Farther out, APA is punching well above its weight in the LNG space, and has the potential to see significant revenue from selling stranded gas to premium Asian markets. Costs and production replacement are trending in the right direction and realizations are solid given APA’s international portfolio."
To see more ratings on APA, Click Here
Analyst, John Malone, said, "We believe that Apache is undervalued on an NAV basis and is not receiving credit for its growth potential. While we appreciate the market’s caution surrounding political risks in some of APA’s core areas, we think these concerns are overblown. An aggressive capex budget of $9.5B in 2012 has also raised eyebrows, but as most of that is to be spent on relatively low hanging fruit in US liquids-rich plays, it looks like a good move to us. Farther out, APA is punching well above its weight in the LNG space, and has the potential to see significant revenue from selling stranded gas to premium Asian markets. Costs and production replacement are trending in the right direction and realizations are solid given APA’s international portfolio."
To see more ratings on APA, Click Here
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