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Exco Resources' (XCO +2.4%) partnership deal with Harbinger (HRG +4%) gives XCO temporary relief...

Exco Resources' (XCO +2.4%) partnership deal with Harbinger (HRG +4%) gives XCO temporary relief under the company’s debt covenants, but sets an "upper bound” for XCO's valuation, Jefferies says. The fields with which XCO is parting tend to produce more oil and gas liquids and have longer productive lives than the rest of its wells, "supporting our view that shares are overvalued."
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