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

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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
Apr 2015Cowen & CompanyInitiates Coverage onMarket Perform
Apr 2015JefferiesMaintainsUnderweight
Apr 2015NomuraInitiates Coverage onReduce

View More Analyst Ratings for APA
View the Latest Analyst Ratings

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

 

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