Susquehanna updated his estimates for APA Corp. (APA) following its announcement yesterday to acquire Callon Petroleum (CPE) in a $4.5B all-stock transaction, inclusive of Callon’s net debt. The deal is expected to be immediately accretive to EPS and FCF, with minimal increase to leverage. Susquehanna reiterates its Positive rating and $53 price target on APA Corp. shares.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on APA:
- M & A News: APA Acquires Callon (NYSE:CPE) in $4.5B Deal
- Callon Petroleum jumps 6% to $35.69 after APA Corp. buyout proposal
- APA Corp. to acquire Callon Petroleum in $4.5B all-stock transaction
- APA Corp. acquiring Callon Petroleum in all-stock transaction for $4.5B
- APA Corporation to Acquire Callon Petroleum Company in All-Stock Transaction
