Analysts: Apache Still Has Upside and 3 Other Research Notes to Explore
Apache (NYSE:APA): Credit Suisse believes that Apache still has upside despite the recent rally in shares. The firm raised its price target to $104 from $100 based on a higher valuation for Egypt, and it sees upside from U.S. onshore assets and buybacks. The shares are given an Outperform rating.
Blackstone (NYSE:BX): Bank of America Merrill Lynch upgraded Blackstone to Buy from Neutral to reflect increased distributions and asset growth, and the firm views it as the best growth story in the group. The shares’ price target has been raised to $28.
Dominion (NYSE:D): ISI Group upgraded Dominion to Buy from Neutral and raised its price target to $66 on expectations that the formation of an MLP next year will unlock value.
Avanir (NASDAQ:AVNR): Piper Jaffray attributes last week’s 30 percent selloff in shares of Avanir to accusations of off-label marketing of Nuedexta and concerns regarding ongoing patent litigation. Piper views both issues as overblown and says the pullback in shares is a buying opportunity. The firm keeps an Overweight rating on Avanir with a $30 price target.