Mizuho Securities Downgrades Anadarko Petroleum (APC) to Neutral

Mizuho Securities analyst Paul Sankey downgraded Anadarko Petroleum (NYSE: APC) from Buy to Neutral with a price target of $51.00.

The analyst comments "It is tough to cut, relative to our coverage, a lower multiple name with higher oil leverage, into what we think is a better near-term crude price environment than consensus expectations. But we are willing to take on leverage in our existing buys with CLR (oil mix) and MRO (valuation discount). For APC, upcoming FID on Mozambique could also be a near-term positive. But potential for project delays in Mozambique, especially considering the current turmoil in the region, poses risk to our 2022 free cash flow estimate. Political uncertainty in Colorado adds additional risk."

For an analyst ratings summary and ratings history on Anadarko Petroleum click here. For more ratings news on Anadarko Petroleum click here.

Shares of Anadarko Petroleum closed at $45.09 yesterday.

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