Citigroup reiterated its "Buy" rating on Anadarko Petroleum (NYSE:APC) today, keeping a target price of $75 as well.
Analysts at Citi said, "We spent time on the road this week with Anadarko Chairman, Jim Hackett, visiting investors in Beijing and Tokyo. The meetings were well received and Mr. Hackett appeared confident that the company will prevail in its stance that it will ultimately not be liable for 25% of the total costs associated with the Macondo oil disaster due to a series of bad decisions by BP (NYSE:BP) in the last 48 hours leading up to the well blowout, which likely constitute gross negligence."
Anadarko continues to resist paying out anything connected to the Gulf oil spill, leading to an eventual showdown with partner BP. Anadarko holds a 25 percent stake in the oil well involved with the spill.
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