Jefferies Starts Concho Resources (CXO) at Buy

Jefferies initiates coverage on Concho Resources (NYSE: CXO) with a Buy rating and a price target of $133.00.

Analyst Jonathan Wolff comments, "Dominant pure-play Permian basin producer. Under-appreciated economic inventory in low-cost Bone Spring series- northern Delaware basin (western Permian) Strong funding access. Proven value-enhancement through consolidation in tough commodity markets."

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 $113.04 yesterday.

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