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Anadarko sale of Mozambique stake positive, says Wells Fargo

After Anadarko announced it had sold a 10% interest in Mozambique for $2.64B in cash, Wells Fargo thinks the price was slightly above Street expectations. The firm believes that the cash will enable the company to increase its production rate target in 2014 and possibly 2015 by a couple of percentage points. It keeps an Outperform rating on the stock.