UPDATE: Citigroup Reiterates on Concho Resources as Growth Plan Execution Leads to Attractive Multiple Compression

In a report published Monday, Citigroup analyst John Nelson reiterated a Buy rating on Concho Resources (NYSE: CXO ), and raised the price target from $120.00 to $130.00. In the report, Citigroup noted, “Concho's recently announced 3 year growth plan strengthens our conviction in our prior investment thesis while execution