Imperial Capital Starts Concho Resources (CXO) at Outperform; Permian Basin Play

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Imperial Capital initiates coverage on Concho Resources (NYSE: CXO) with a Outperform rating and $105 price target.

The firm calls the CXO a "well positioned" Permian Basin pure play with a proven management team. The firm said CXO is well positioned to participate in many of the Basin's emerging horizontal plays should returns so justify.

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 $87.46 yesterday, with a 52 week range of $76.17-$116.82.

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