Canaccord Genuity Maintains a 'Buy' on Concho Resources (CXO); Cutting PT on Near-Term Bumps, But Like Overall Direction
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Price: $87.42 --0%
Rating Summary:
21 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Rating Summary:
21 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 10 | New: 19
Trade CXO Now!
Canaccord Genuity maintains a 'Buy' on Concho Resources (NYSE: CXO) price target of $120.00 (from $122.00).
Analyst, John Gerdes, said, "We are lowering our price target due to ~4% lower ’12E production and slightly higher operating expense. For reference, we are now at the high end of ’12 company production guidance...The recently completed Three Rivers acquisition meaningfully increased the scale of the company’s northern Delaware Basin and Midland Basin leasehold (combined ~200,000 net acres)."
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 $96.34 yesterday, with a 52 week range of $63.20-$116.82.
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Analyst, John Gerdes, said, "We are lowering our price target due to ~4% lower ’12E production and slightly higher operating expense. For reference, we are now at the high end of ’12 company production guidance...The recently completed Three Rivers acquisition meaningfully increased the scale of the company’s northern Delaware Basin and Midland Basin leasehold (combined ~200,000 net acres)."
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 $96.34 yesterday, with a 52 week range of $63.20-$116.82.
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