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


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

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

View More Analyst Ratings for APA
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Posted-In: Arun Jayaram Credit SuisseAnalyst Color Downgrades Analyst Ratings

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