November 9, 2012 7:23 AM | 1 min read
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Goldman Sachs upgraded Concho Resources Inc. (NYSE: CXO) from Neutral to Buy, but reduced the 6-month price target to $111 from $112.Goldman Sachs noted, "CXO currently trades at 6.4x/5.3x 2013E/14E EV/EBITDA, vs. 5.1x/4.7x average for peers. In our view, the premium is justified given CXO's superior oil growth/returns vs. peers and strong Delaware Basin results which raise confidence in CXO's resource life. We highlight that on 2016 estimates, valuation is at par with peers. We see 38% upside to our $111 DCF-/multiplesbased 6-month target price, lowered from $112 on lower EBITDA (we update 2012E -14E EPS after 3Q results on changes to production/costs/prices)."Concho Resources closed at $80.40 on Thursday.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.