UPDATE: Imperial Capital Initiates Concho Resources at Outperform
Imperial Capital initiated coverage on Concho Resources Inc. (NYSE: CXO) with a Outperform rating and a $105.00 price target.
Imperial Capital commented, "CXO is a pure-play, oil-focused Permian Basin oil and gas producer benefiting from strong production growth, long-lived reserves, a low-cost structure, and low-risk production and growth opportunities. CXO remains committed to rate-of-return driven growth, reinvesting cash flow into its highest margin plays. Additionally, as one of the largest operators in the Basin, CXO is well positioned to participate in many of the Basin's emerging horizontal plays should returns so justify."
Concho Resources closed at $87.01 on Wednesday.
Latest Ratings for CXO
|Sep 2015||Suntrust Robinson HUmphreys|
|Aug 2015||Global Hunter||Downgrades||Buy||Neutral|
|Jul 2015||Credit Suisse||Upgrades||Neutral||Outperform|
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