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CXO

Concho Resources

$150.55

-2.15 (-1.41%)

, RSPP

RSP Permian

$47.72

-0.47 (-0.98%)

08:46
05/15/18
05/15
08:46
05/15/18
08:46

Concho Resources price target raised to $180 from $165 at JPMorgan

JPMorgan analyst Arun Jayaram raised his price target for Concho Resources (CXO) to $180 ahead of the upcoming merger with RSP Permian (RSPP). The analyst forecasts an increase in Concho's annual production growth through 2021 to 23% from 20% and "significant" free cash flow generation. He keeps an Overweight rating on Concho shares.

CXO

Concho Resources

$150.55

-2.15 (-1.41%)

RSPP

RSP Permian

$47.72

-0.47 (-0.98%)

  • 15

    May

CXO Concho Resources
$150.55

-2.15 (-1.41%)

03/29/18
STFL
03/29/18
NO CHANGE
Target $212
STFL
Buy
Concho Resources price target raised to $212 after RSP Permian deal at Stifel
Stifel analyst Derrick Whitfield said he is supportive of Concho Resources' (CXO) deal to buy RSP Permian (RSPP) and he attributes the negative reaction seen in the stock to "sticker shock and shear surprise." He thinks the critical question to answer is whether Concho management can more than offset the premium paid through corporate and operational synergies and he believes they can generate over $2B of synergies while lowering cost of supply via the RSP transaction. Whitfield, who said Concho remains a top pick within his coverage, raised his price target on the shares to $212 from $200 and keeps a Buy rating on the stock.
04/02/18
KLRG
04/02/18
DOWNGRADE
KLRG
Hold
RSP Permian downgraded to Hold from Buy at KLR Group
RSP Permian (RSPP) has entered into a definitive agreement under which Concho Resources (CXO) will acquire the company in an all-stock transaction valued at approximately $9.5B, inclusive of RSP's net debt.
04/02/18
MUFG
04/02/18
NO CHANGE
MUFG
Concho Resources price target raised to $171 from $167 at MUFG
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.
04/03/18
FBCO
04/03/18
DOWNGRADE
Target $51
FBCO
Neutral
RSP Permian downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse analyst Betty Jiang downgraded RSP Permian (RSPP) to Neutral from Outperform post fair takeout price paid by Concho Resources (CXO). The analyst also lowered his price target on the shares to $51 from $53.
RSPP RSP Permian
$47.72

-0.47 (-0.98%)

04/03/18
GHSC
04/03/18
DOWNGRADE
GHSC
Neutral
RSP Permian downgraded to Neutral from Buy at Seaport Global
RSP Permian (RSPP) has agreed to be acquired by Concho Resources (CXO) in an all-stock transaction valued at approximately $9.5B, inclusive of RSP's net debt.
04/09/18
STFL
04/09/18
DOWNGRADE
STFL
Hold
RSP Permian downgraded to Hold from Buy at Stifel
RSP Permian (RSPP) has agreed to be acquired by Concho Resources (CXO) in an all-stock transaction valued at approximately $9.5B, inclusive of RSP's net debt.
04/16/18
ROTH
04/16/18
DOWNGRADE
ROTH
Neutral
RSP Permian downgraded to Neutral from Buy at Roth Capital
Roth Capital analyst John White downgraded RSP Permian (RSPP) to Neutral, citing the company's agreement to be acquired by Concho Resources (CXO) in an all-stock transaction valued at approximately $9.5B, inclusive of RSP's net debt.

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