Market Overview

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

Related APA
Earnings Scheduled For August 6, 2015
Benzinga's Top Initiations
The OPEC Catalyst As U.S. Production Slowly Declines (Seeking Alpha)

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

Aug 2015Raymond JamesMaintainsOutperform
Aug 2015BarclaysMaintainsOverweight
Aug 2015Credit SuisseMaintainsNeutral

View More Analyst Ratings for APA
View the Latest Analyst Ratings

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


Related Articles (APA)

Get Benzinga's Newsletters