BofA mantains BUY on occidental as inevitable split -up aproaches!
After meeting with occidental's ceo steve chazen for the 3rd time in just a few weeks, analist doug leggate CONFIRMED occidental petroleum will definitly SPLIT UP INTO MULTIPLE PARTS leggate believes the company will likely ipo its calif unit.leggate not certain how middle east will be monetized,but speculates the move could be through an ipo,a partial sale,or full sale. the bof a analyst called a buyback in the range of 15 to 20 billion "not only possible but likely leggate reiterated his prior view occidental could be worth at least 150 per share in a breakup.!
no kidding. "smart" investors are asking those very same questions. there's a chance the market could be disappointed with the spinoff plans. oxy isn't cop or mro, there are no clearcut lines of business - exploration and production versus the refinery business, etc.