BMO Capital analyst Phillip Jungwirth raised his price target on Apache to $36 after traveling with its management this week, saying investor sentiment appears to have improved amid "Permian oil outperformance, Suriname opportunity, North Sea growth, and messaging around improving Alpine High margins." The analyst notes that the adjustment made to his model have taken his FY19 EPS outlook to $8.72 from $8.52 and his FY20 outlook to $9.02 from $8.80, even though he is keeping his Market Perform rating to reflect the company's "lower relative debt adjusted production growth."