UPDATE: Barclays Upgrades Concho Resources (CXO) to Overweight; Adjusting Estimates and Price Target
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Price: $83.20 +2.72%
Rating Summary:
21 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
21 Buy, 10 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CXO Now!
(Updated - July 2, 2012 1:17 PM EDT)
Barclays upgraded Concho Resources (NYSE: CXO) from Equalweight to Overweight with a price target of $105.00 (from $114.00).
Analyst, Thomas R. Driscoll, said, "Share prices (EPX down 17% for 2Q) have fallen in line with falling oil (down 26%) and NGL prices. We are taking the opportunity to upgrade Pioneer (NYSE: PXD) (-27% in 2Q) and CXO (-20%) to OW."
Driscoll adjusts estimates including FY12 EPS from $4.65 to $4.10 and FY13 from $6.45 to $5.85.
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 $85.12 yesterday, with a 52 week range of $63.20-$116.82.
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Barclays upgraded Concho Resources (NYSE: CXO) from Equalweight to Overweight with a price target of $105.00 (from $114.00).
Analyst, Thomas R. Driscoll, said, "Share prices (EPX down 17% for 2Q) have fallen in line with falling oil (down 26%) and NGL prices. We are taking the opportunity to upgrade Pioneer (NYSE: PXD) (-27% in 2Q) and CXO (-20%) to OW."
Driscoll adjusts estimates including FY12 EPS from $4.65 to $4.10 and FY13 from $6.45 to $5.85.
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 $85.12 yesterday, with a 52 week range of $63.20-$116.82.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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