Market Overview

UPDATE: Credit Suisse Downgrades Apache on Extended Duration to Free Cash Flow Inflection

Share:

In a report published Tuesday, Credit Suisse analyst Arun Jayaram downgraded the rating on Apache (NYSE: APA) from Outperform to Neutral, and lowered the price target from $104.00 to $102.00.

In the report, Credit Suisse noted, “We are downgrading APA shares to Neutral from Outperform and lowering our target price to $102 from $104 per share. While APA shares trade at discounted cash flow multiples versus its peers, we believe this discount may persist as APA isn't poised to reach a free cash flow inflection point until ‘17. Meanwhile, it appears the company's 'self-help' initiatives, which added value, are largely in the rear-view mirror.”

Apache closed on Monday at $80.75.

Latest Ratings for APA

DateFirmActionFromTo
Jan 2021Raymond JamesUpgradesOutperformStrong Buy
Jan 2021KeyBancMaintainsOverweight
Jan 2021BarclaysUpgradesEqual-WeightOverweight

View More Analyst Ratings for APA
View the Latest Analyst Ratings

 

Related Articles (APA)

View Comments and Join the Discussion!

Posted-In: Arun Jayaram Credit SuisseAnalyst Color Downgrades Analyst Ratings

Latest Ratings

StockFirmActionPT
WKHSRoth CapitalMaintains15.0
HCKTRoth CapitalMaintains22.0
ARECRoth CapitalInitiates Coverage On7.5
SLABWells FargoMaintains180.0
PENWells FargoMaintains310.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com