Analysts: Anadarko’s Mozambique Sale Is Positive and 3 More Research Notes to Check Out
Anadarko Petroleum (NYSE:APC): After Anadarko announced it had sold a 10 percent interest in Mozambique for $2.64 billion in cash, Wells Fargo thinks the price was slightly above Street expectations. The firm believes that the cash will enable the company to increase its production rate target in 2014 and possibly 2015 by a couple of percentage points, and it keeps an Outperform rating on the stock.
Amgen (NASDAQ:AMGN): RW Baird believes Amgen is fairly valued in the $107 range following the Onyx Pharmaceuticals (NASDAQ:ONXX) acquisition and points to Kyprolis’s near-term revenue struggles and a clinical story that is a work in progress. The shares are Neutral rated with a $107 price target, up from $101.
Dollar Tree (NASDAQ:DLTR): Deutsche Bank upgraded Dollar Tree to Buy from Hold due to accelerating traffic trends, easier second half of the year comps, completion of distribution expansion, store growth, reduced big-box promotions, and buybacks. The price target was raised to $60.
Arkansas Best (NASDAQ:ABFS): Raymond James has upgraded Arkansas Best to Strong Buy from Market Perform based on network optimization potential and valuation. The price target on the shares is $46.