Jefferies says $2B-$3B verdict would be bullish for Anadarko Jefferies notes closing arguments concluded yesterday in Tronox's (TROX) case against Anadarko (APC). The firm says one of court's questions implied $2B-$3B would be the minimum acceptable to the U.S. for clean-up. Jefferies believes a judgment against Anadarko in this price range would be a bullish outcome as it estimates at least $4B is priced into Anadarko shares.
News For APC;TROX From The Last 14 Days
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Anadarko downgraded to Market Perform from Outperform at Bernstein Bernstein downgraded Anadarko to Market Perform citing valuation and expectations for lower crude prices throughout the year. The firm keeps a $107 price target for shares.