Jefferies Downgrades EXCO Resources (XCO) to Underperform, Slashes Numbers

Jefferies downgraded EXCO Resources (NYSE: XCO) from Neutral to Underperform with a price target of $4, down from $7.

The firm comments, "We're downgrading to Underperform on natural gas weakness, deteriorating liquidity, a light 2013 hedge position, and too few meaningful organic oil growth opportunities. Given all of the above, our optimism for sizable liquids acquisition has waned."

Jefferies cut FY12 EPS from $0.32 to $0.00 and FY13 from $0.19 to ($0.09).

For an analyst ratings summary and ratings history on EXCO Resources click here. For more ratings news on EXCO Resources click here.

Shares of EXCO Resources closed at $6.95 yesterday.

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