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Fly News Breaks for March 5, 2018
APA
Mar 5, 2018 | 08:58 EDT
RBC Capital analyst Scott Hanold lowered his price target on Apache to $45 after the company's Q4 earnings, saying the management is taking a more measured investment approach with $3.0B forecast vs. the prior outlook of $3.1B while concentrating its spending on Alpine High development. Hanold adds that the investment disclosure suggests that annual organic production growth will range in 10%-15% range - below his 15%-18% prior forecast. The analyst keeps his Sector Perform rating on Apache and expects the stock to perform in line with its peer group in the near term.
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