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

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8 Biggest Price Target Changes For Thursday
Benzinga's Top Upgrades, Downgrades For March 2, 2017

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
Mar 2017BarclaysDowngradesEqual-WeightUnderweight
Feb 2017MacquarieDowngradesNeutralUnderperform
Dec 2016Wells FargoDowngradesOutperformMarket Perform

View More Analyst Ratings for APA
View the Latest Analyst Ratings

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

 

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