Market Overview

J.P. Morgan Upgrades Andarko, Optimistic on Tronox Settlement

Share:
Related APC
Delaware Should Drive Anadarko's Upside Over Time; Credit Suisse Raises Target To $68
Despite Anadarko's Positive Momentum, CLSA Analysts Keep Their Rating At Underperform
Anti-fracking measures come up short for Colorado ballot (Seeking Alpha)

J.P. Morgan analyst Joseph Allman upgraded Anadarko Petroleum (NYSE: APC) from Underweight to Overweight and raised the price target from $84.00 to $129.00.

The analyst is optimistic on Anadarko's announcement of a settlement in the Tronox Adversary Proceeding. Allman commented, “We view this settlement as positive for the stock, even after Thursday afternoon's share price move.”

Shares of Anadarko jumped from $86.04 to $95.62 before 2:00 PM (EST) on Thursday. The stock continued to climb, closing at $99.02. On Friday, shares are currently up +2.15 percent in pre-market trading.

Latest Ratings for APC

DateFirmActionFromTo
Jul 2016BarclaysMaintainsEqual-weight
Jul 2016Credit SuisseMaintainsNeutral
Jun 2016CLSAInitiates Coverage onUnderperform

View More Analyst Ratings for APC
View the Latest Analyst Ratings

Posted-In: J.P. Morgan Joseph AllmanAnalyst Color Upgrades Price Target Analyst Ratings

 

Related Articles (APC)

View Comments and Join the Discussion!