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Fly News Breaks for December 10, 2018
CXO
Dec 10, 2018 | 06:44 EDT
Seaport Global analyst Mike Kelly upgraded Concho Resources to Buy from Neutral and raised its price target to $160 from $145. Kelly views valuation as attractive following the 20% drop in shares since early October and views the company as a best-of-breed Permian and large cap E&P name. Kelly said Concho's high returns are only getting better and sees 30 years worth of drilling inventory with little capital needed on the A&D front.
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