Goldman Sachs Downgrades Plains Exploration (PXP) to Neutral On Valuation

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January 24, 2012 6:55 AM EST
Get Alerts PXP Hot Sheet
Price: $48.90 --0%

Rating Summary:
    7 Buy, 7 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 7 | Down: 15 | New: 36
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Goldman Sachs downgraded Plains Exploration (NYSE: PXP) from Buy to Neutral with a price target of $46 citing recent outperformance.

The firm notes that shares have outperformed since being upgraded on December 1, 2010 and more recently over the last three months (+35% versus 0% for the EPX Index and +8% for the S&P 500). Goldman said the company is being recognized for expected growth due to its large drilling inventory and also for its oily focus.

For an analyst ratings summary and ratings history on Plains Exploration click here. For more ratings news on Plains Exploration click here.

Shares of Plains Exploration closed at $38.21 yesterday.

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