Concho Resources (CXO +1.6%) is initiated at Outperform by Imperial Capital, which says the...

|About: Concho Resources Inc. (CXO)|By:, SA News Editor

Concho Resources (CXO +1.6%) is initiated at Outperform by Imperial Capital, which says the pure-play, oil-focused Permian Basin company benefits from strong production growth, long-lived reserves, a low-cost structure and low-risk production and growth opportunities. The firm likes CXO's commitment to rate-of-return driven growth, reinvesting cash flow into its highest margin plays.