Market Overview

UPDATE: Morgan Stanley Initiates Apache at Equal-Weight on Lack of Catalysts

Related APA
Canaccord: Apache Corp Won't See M&A, Assets Don't Warrant Premium
Benzinga's M&A Chatter for Wednesday November 11, 2015

Morgan Stanley initiated coverage on Apache (NYSE: APA) with an Equal-weight rating and a $81 price target.

Morgan Stanley said, "APA trades at the second-lowest multiple in our coverage (HES lowest); however, we see few probable catalysts that would drive a re-rating. Without success in frontier plays, we think APA will struggle to grow organically. APA trades at a fair discount for its low growth and higher-risk portfolio."

Apache closed at $77.10 on Monday.

Latest Ratings for APA

Nov 2015Credit SuisseMaintainsNeutral
Sep 2015CitigroupMaintainsBuy
Sep 2015BarclaysMaintainsOverweight

View More Analyst Ratings for APA
View the Latest Analyst Ratings

Posted-In: Morgan StanleyAnalyst Color Initiation Intraday Update Analyst Ratings


Related Articles (APA)

View Comments and Join the Discussion!

Get Benzinga's Newsletters