Market Overview

UPDATE: J.P. Morgan Downgrades Apache Corporation to Neutral on Lack of Catalysts, Low Growth

Share:
Related APA
Fund Manager Franklin Templeton Bets On Higher Oil Prices
Watch These 7 Huge Put Purchases In Thursday Trade
T. Rowe Price Equity Income Fund Sells Apache, Johnson & Johnson in —nd Quarter (GuruFocus)

In a report published Thursday, J.P. Morgan analyst Joseph Allman downgraded the rating on Apache Corporation (NYSE: APA) from Overweight to Neutral, and lowered the price target from $89.50 to $76.50.

In the report, Allman noted, “Historically, APA has achieved good rates of return, maintained a relatively strong balance sheet and built upon a diversified asset base. However, we think that the company's lack of meaningful catalysts, relatively low growth, and risky or burdening assets will cause the stock to perform only in line with the group or even underperform.”

Apache Corporation closed on Wednesday at $71.45.

Latest Ratings for APA

DateFirmActionFromTo
Jun 2016CLSAInitiates Coverage onUnderperform
May 2016iBERIA Capital PartnersMaintainsSector Perform
May 2016Scotia Howard WeilUpgradesSector PerformOutperform

View More Analyst Ratings for APA
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Downgrades Analyst Ratings

 

Related Articles (APA)

View Comments and Join the Discussion!