Market Overview

UPDATE: Imperial Capital Initiates Concho Resources at Outperform

Related CXO
Benzinga's Top Upgrades
Macquarie Upgrades Concho Resources To Outperform
Permian Oil Surge Creates Need for Pipelines (Fox Business)

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

DateFirmActionFromTo
Dec 2014BarclaysMaintainsOverweight
Dec 2014Deutsche BankMaintainsBuy
Dec 2014MacquarieUpgradesNeutralOutperform

View More Analyst Ratings for CXO
View the Latest Analyst Ratings

Posted-In: imperial capitalAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (CXO)

Around the Web, We're Loving...

Get Benzinga's Newsletters