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Upgrade Alert for Anadarko Petroleum (APC)

By Shiri Gupta

Anadarko Petroleum (NYSE:APC) was upgraded from Accumulate to Buy at Johnson Rice today. The stock closed yesterday at $57.59 on volume of 33.2 million shares, above average daily volume of 5.9 million.

Potential upside of 46.0% exists for Anadarko Petroleum, based on a current level of $57.59 and analysts' average consensus price target of $84.10. Anadarko Petroleum shares have support at the 200-day moving average (MA) of $55.58 and additional support at the 50-day MA of $46.98.

In the past 52 weeks, Anadarko Petroleum share prices have been bracketed by a low of $28.16 and a high of $95.75 and closed yesterday at $57.59, 105% above that low price. The 200-day and 50-day moving averages have moved 0.89% lower and 2.22% higher over the past week, respectively.

Anadarko Petroleum Corporation is an independent oil and gas exploration and production company with international operations. In the United States, the Company operates in Texas and surrounding states, the Rocky Mountain region, Alaska, and the Gulf of Mexico. Internationally, Anadarko has exploration and/or production operations in Africa, Asia, South America, and the Caribbean.

SmarTrend is tracking the current trend status for Anadarko Petroleum and will alert subscribers who have APC in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Anadarko Petroleum

Ticker(s): APC