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Fly News Breaks for April 2, 2018
RSPP, CXO
Apr 2, 2018 | 14:32 EDT
MUFG analyst Michael McAllister raised his price target to $171 from $167and maintained an Overweight rating on Concho shares, after Concho Resources (CXO) announced the acquisition of RSP Permian (RSPP) in an all-stock $8.8B transaction expected to close in the third quarter. McAllister expects the combined company to overtake the previous leader as the most active in the basin, and sees further consolidation in the future.
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