Wells Fargo Upgrades Concho Resources (CXO) to Outperform; Offering a Deep Inventory of Low-Risk Opportunities

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Wells Fargo upgraded Concho Resources (NYSE: CXO) from Market Perform to Outperform with a price target range of $110-$120 (from $90-$100).

Analyst, David Tameron, said, "Continued execution in the Permian, strong growth within cash flow, and recent underperformance make this a very attractive name in the mid cap space, in our view. We are also slightly revising our 2012/2013 EPS estimates higher from $4.39/$6.08 to $4.41/$6.24, respectively."

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 $85.63 yesterday, with a 52 week range of $63.20-$116.82.

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