Olympia Capital Reiterates a 'Buy' Rating on REX American Resources (REX), But Lowers Numbers on Uncertainties
- Wall Street rebounds from Brexit with second day of big gains
- Fed Releases CCAR Results; Objects to Capital Plan of Deutsche Bank (DB), Santander Holdings USA (SC)
- Citigroup (C) Announces Substantial Dividend Hike, $8.6B Stock Buyback Plan Following CCAR Results
- Tractor Supply (TSCO) Prelim. Q2 Results Miss Views; Fy16 Outlook Cut
- Bank of America (BAC) Approves $5B Buyback; Hikes Qtr. Dividend 50%
Olympia Capital reiterates a 'Buy' rating on REX American Resources (NYSE: REX), raises PT from $21 to $24.
Olympia analyst says, "Looking ahead for REX there remains uncertainty: while ethanol prices have firmed up considerably, corn prices have moved sharply higher reflecting overseas grain crop concerns and an increase in non-commercial speculation the uncertain prospects for the extension of the blender’s tax credit the EPA’s delay in responding to the industry request for an approval of an increase to 15%, or at least 12%, blend levels from 10% in conventional gasoline...Given these uncertainties surrounding corn pricing and legislative issues confronting the industry, Olympia revises EPS estimates for REX lower for Q3 and Q4, as well as annual estimates for FY’10, and FY’11."
To see all the upgrades/downgrades on shares of REX, visit our Analyst Ratings page.
Shares are trading at $13.67, up $0.15 (1.11%) today.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Jefferies Raises Price Target on AeroVironment (AVAV) to $27 Following EPS Beat
- Mizuho Securities Raises Price Target on PG&E Corp. (PCG) to $67; Reiterates Buy
- Orex Awards a Contract for Metallurgical Testing on the Sandra Escobar Silver Project in Durango, Mexico
Create E-mail Alert Related CategoriesAnalyst Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!