Brean Murray Carret & Co. Upgrades REX Energy (REXX) to Buy; Asset Sales and Hedging

April 20, 2012 7:58 AM EDT Send to a Friend
Get Alerts REXX Hot Sheet
Price: $14.45 -1.83%

Rating Summary:
    12 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 8 | Down: 13 | New: 4
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Brean Murray Carret & Co. upgraded REX Energy (NASDAQ: REXX) from Hold to Buy with a price target of $14.00.

Analyst, Raymond Deacon, said, "We think gas prices will trough over the next two months, and in that environment REXX has the ability to outperform du to planned asset sales, exploration in the Utica shale, third-partythird-party results from the super rich portion of the Marcellus in Mercer county and further results from the Upper Devonian/Burkett shale." (Raies FY12 EPS estimate from $0.49 to $0.52)

For an analyst ratings summary and ratings history on REX Energy click here. For more ratings news on REX Energy click here.

Shares of REX Energy closed at $9.08 yesterday.

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