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Fly News Breaks for November 16, 2018
APC
Nov 16, 2018 | 05:29 EDT
MUFG analyst Michael McAllister lowered his price target for Anadarko Petroleum to $92 after the company revealed its 2019 capital plan and production guidance. To recognize the recent action in the crude oil markets, the analyst lowered his price realization estimates by 7% for 2019 and 2020. Further, he points out that the 20% increase in his capital expenditure assumptions also has a negative effect on financial metrics. McAllister, however, reaffirms an Overweight rating on Anadarko.
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