Ladenburg Thalmann Increases PT on Concho Resources to $135

Ladenburg Thalmann raises its price target on Concho Resources CXO from $125 to $135 and reiterates its Buy rating on the company in a research report out today. In the report, Ladenburg Thalmann writes, "CXO reported recurring, diluted Q4 EPS/CFPS of $1.15/$3.07. Higher realized prices and production were partly offset by higher costs. Reiterate Buy rating and increasing price target to $135 from $125 given our bullish near-term outlook for crude oil prices relative to natural gas prices." Shares of Concho Resources are currently trading at $109.98, down 5.19% from yesterday's close.