Wells Fargo Starts REX Energy (REXX) at Outperform; Attractive Opportunity to Play Appalachia

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Wells Fargo initiates coverage on REX Energy (NASDAQ: REXX) with an Outperform. PT range $16-18.

Analyst, Gordon Douthat, said, "Rex is a small-cap Appalachia-focused E&P that is entering a period of high growth in the Marcellus, with catalysts in the Utica and long-term optionality in other dry gas zones across its position in Pennsylvania. Rex is well positioned from a balance sheet perspective, with funding in place to execute on its development program, while hedges protect cash flows through 2014."

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 $11.58 yesterday, with a 52 week range of $8.80-$18.00.

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