Ladenburg Thalmann Increases PT on Concho Resources to $135
Ladenburg Thalmann raises its price target on Concho Resources (NYSE: 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.
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