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Fly News Breaks for June 11, 2019
CXO
Jun 11, 2019 | 09:39 EDT
SunTrust analyst Neal Dingmann lowered his price target on Concho Resources to $135, reducing his assumed expected 2020 EBITDA multiple to 7.0-times from 7.6-times to reflect his "updated capital and production cadence outlook for the year." The analyst also maintains his Buy rating on the shares and believes that the company is at a "critical turning point" toward free cash flow generation expected to pick up materially in Q3.
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