Apache: This Oil & Gas King Will Hit $135 By 2014
By ValueMax:Apache (APC) is a well-oiled machine in the world of small independent oil and gas explorers and developers. There is a lot to be optimistic about in the oil and gas subsector generally, but I think that Apache is the most promising company in terms of long-term profitability, reliability, and fundamental outlook. Much of its recent production growth has been due to acquisitions from which I believe there is still considerable upside to be seen. In this article, I will show why Apache is a strong stock for the long-term investor.
Apache stock has recently fallen and has since stabilized at $91 from a first quarter 2012 high of $111. I believe that Apache is still slightly undervalued, even at $111, and thus, $91 is an ideal purchase price. Analysts agree on an upside of at least 40%, with conservative estimates putting the 12-month target around $135 to $140Complete Story »