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UPDATE: Credit Suisse Raises PT on Anadarko Petroleum on Compelling Risk/Reward Profile

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In a report published Wednesday, Credit Suisse analyst Arun Jayaram reiterated an Outperform rating on Anadarko Petroleum Corporation (NYSE: APC), and raised the price target from $109.00 to $122.00.

In the report, Credit Suisse noted, “Given the compelling risk/reward profile, the Credit Suisse Investment Policy Committee (IPC) is adding APC to the U.S. Focus List as the stock is the most compelling name in the large cap E&P group. We are raising our target price to $122, which is at parity with NAV. In the shale era, early identification of a franchise asset, which provides a large inventory of lower risk and high-return development drilling opportunities, can lead to sustained differential stock performance. While APC is blessed with several core franchise assets in the U.S. (Wattenberg, Eagle Ford, Marcellus), initial drilling results suggest that 'the next big thing' in their U.S. onshore portfolio could be the Delaware Basin Wolfcamp, based on strong initial results.”

Anadarko Petroleum Corporation closed on Tuesday at $92.12.

Latest Ratings for APC

DateFirmActionFromTo
May 2019Seaport GlobalDowngradesBuyNeutral
May 2019Cowen & Co.DowngradesOutperformMarket Perform
May 2019Morgan StanleyMaintainsEqual-Weight

View More Analyst Ratings for APC
View the Latest Analyst Ratings

 

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Posted-In: Arun Jayaram Credit SuisseAnalyst Color Price Target Analyst Ratings

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