- Jefferies upgrades its ratings on Anadarko Petroleum (APC +0.3%), EOG Resources (EOG -0.1%) and Noble Energy (NBL -1.5%), citing “more realistic embedded oil price and growth.”
- APC is lifted to Buy from Hold with an $88 price target, raised from $85, as the firm notes increased confidence in “a deep, future Delaware Basin (Wolfcamp) development, the potential for opportunistic monetizations (i.e., Mozambique, WGP shares) and a now more attractive valuation.”
- EOG and NBL are raised to Hold from Underperform following recent pressure on the shares, which now better reflect “a slower ramp.”