Market Overview

UPDATE: Deutsche Bank Raises PT to $135 on Concho Resources; Three Rivers Acquisition

Share:
Related CXO
Here Are The 14 Stocks Morgan Stanley Wants You To Focus On During Q2 Earnings
6 Largest Price Target Changes For Monday
Tesla, Shale, Big Media, Jobs Reports Lead Investing Action Plan (Investor's Business Daily)

Deutsche Bank increases its price target from $131 to $135 on Buy-rated Concho Resources (NYSE: CXO) on the company's active acquisition streak.

Deutsche Bank says, "A key thesis behind our upgrade of CXO on Apr 2nd was the likelihood of an active year of acquisition. CXO's purchase of Three Rivers, was the first major deal of the year, acquiring 200k net acres across the Delaware and Midland Basins. With its inexpensive cost of capital and operational strength, we remain bullish given the addition to what is already a robust inventory position and relatively attractive deal metrics. With its portfolio of long-lived, accretive, oil driven growth within cash flow, CXO remains a core holding."

CXO closed at $92.02 on Monday.

Latest Ratings for CXO

DateFirmActionFromTo
Jun 2016Deutsche BankMaintainsBuy
Jun 2016Morgan StanleyUpgradesEqual-weightOverweight
Jun 2016Seaport GlobalUpgradesNeutralAccumulate

View More Analyst Ratings for CXO
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Price Target Reiteration Pre-Market Outlook Analyst Ratings

 

Related Articles (CXO)

View Comments and Join the Discussion!