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Anadarko, EOG, Noble Energy upgraded at Jefferies

Jul. 07, 2015 11:49 AM ETAnadarko Petroleum Corporation (APC) StockAPC, CVX, EOGBy: Carl Surran, SA News Editor2 Comments
  • 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.”

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