Concho Resources (CXO) Update - Nov 14

dan_s · Post by **dan_s** » Thu Nov 14, 2019 6:05 pm

In the last 30 days, 9 ranked analysts set 12-month price targets for CXO that range from $68 (Morgan Stanley) to $141 (Barclays). The average price target among the analysts is $101.50. CXO closed today at $71.62.

Unless you believe WTI is going to $40/bbl and staying there forever, you can ignore all of the stock valuations being put out by Morgan Stanley. They are using a commodity price deck that only makes sense if you believe we are heading to a massive global recession. The Barclays' forecast is worth noting because they are usually in the middle of the pack.

I'm reviewing the updated profile on CXO right now and we should publish it this weekend. My valuation of CXO is close to the average above.