UPDATE: JP Morgan Raises PT to $90.50 on Anadarko Petroleum Following Q3 Model Update

JP Morgan reiterated its Neutral rating on Anadarko Petroleum

and raised its price target from $89.50 to $90.50. JP Morgan commented, "We updated our estimates and NAV for 3Q12 earnings, the latest guidance, the 10-Q, and marked-to-market commodity pricing. We are slightly increasing our Dec-13 price target to $90.50 from $89.50 based on updating our model for 3Q12 earnings, the latest guidance, the 10-Q, revised assumptions for El Merk, and marked-to-market commodity pricing." Anadarko Petroleum closed at $71.89 on Tuesday.