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Fly News Breaks for February 6, 2018
CXO
Feb 6, 2018 | 07:39 EDT
As reported earlier, SunTrust analyst Neal Dingmann downgraded Concho Resources to Hold from Buy while keeling the $160 price target. The analyst says that the company continues to leverage economies of scale to grow production and earnings by over 20% annually, but also believes that the Street expectations now capture most of the upside. Dingmann still sees the current premium valuation as justified while trading "much higher" than the 5-year average.
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