Market Overview

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

Related APA
Apache Enters $2B Credit Line, Borrowing Capacity Under Increased to $5B From $3B
Imperial Capital Lowers Price Targets On 3 Oil Names
Energy Stocks Move Higher as Oil Spikes (Fox Business)

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

DateFirmActionFromTo
Dec 2014BarclaysMaintainsOverweight
Dec 2014Deutsche BankMaintainsHold
Dec 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for APA
View the Latest Analyst Ratings

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

 

Related Articles (APA)

Around the Web, We're Loving...

Get Benzinga's Newsletters