UPDATE: Global Hunter Securities Upgrades REX Energy (REXX) to Accumulate on Valuation

February 21, 2014 8:57 AM EST
Get Alerts REXX Hot Sheet
Price: $0.53 --0%

Rating Summary:
    5 Buy, 14 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 25 | Down: 37 | New: 115
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(Updated - February 21, 2014 9:15 AM EST)

Global Hunter Securities upgraded REX Energy (NASDAQ: REXX) from Neutral to Accumulate with a price target of $22.00.

Analyst Curtis Trimble said, "After reporting Q4:13 EPS/CFPS of $0.10/$0.61, REXX shares traded down in spite of a positive 2014 growth trajectory, spearheaded by the Q2:14 startup of the Marcellus-area Bluestone II processing plant and nine Utica Ocel and Grunder wells in the Warrior North area. Even with line-of-sight growth and easing of takeaway constraints, REXX shares have seen a material increase in volatility of late, which, while a factor in moving our DCF-based valuation to $22 from $24, also puts REXX shares at an attractive value, warranting a move in our rating to Accumulate from Neutral."

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 $18.10 yesterday.

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