KLR Group Raises Price Target on Concho Resources (CXO) to $172

November 10, 2016 8:40 AM EST
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Price: $142.36 -0.29%

Rating Summary:
    26 Buy, 12 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 21 | Down: 36 | New: 11
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KLR Group reiterated an Accumulate rating on Concho Resources (NYSE: CXO), and raised the price target to $172.00 (from $157.00), due to lower costs.

Analyst John Gerdes commented, "We are increasing our CXO target price $15 to $172 per share due to ~10% lower capital intensity and lower operating expense. Our ’17 production growth forecast of ~18% approximates the midpoint of guidance (17%-20% growth)."

For an analyst ratings summary and ratings history on Concho Resources click here. For more ratings news on Concho Resources click here.

Shares of Concho Resources closed at $132.68 yesterday.

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