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Anadarko Rises After Analysts Say Chevron Deal 'Looks Fair'

Rob Lenihan

Shares of Anadarko were up 2% to $63 a share. BMO Capital analyst Phillip Jungwirth downgraded Anadarko to market perform from outperform while raising his price target for the shares to $63 from $53. Jungwirth said the valuation of Chevron's buyout "looks fair" and a competing bid is unlikely.