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Fly News Breaks for May 18, 2018
APC
May 18, 2018 | 07:10 EDT
SunTrust analyst Welles Fitzpatrick initiated Anadarko with a Hold rating and a price target of $70. The analyst says the company has a "clean balance sheet and respectable growth" while also estimating it to become free cash flow positive in Q3 of 2018 - sooner than most E&Ps. Fitzpatrick adds that Anadarko's considered sell-down of its MLP position may lead him to a more constructive view in the future, but for now the current valuation and EBITDA growth trend justifies a neutral stance.
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