Rodman & Renshaw Maintains Energy XXI Market Outperform, $38 PT
Rodman & Renshaw maintained its Energy XXI (NASDAQ: EXXI) Market Outperform rating and $38 price target in a research report published today.
In the report, Rodman & Renshaw states, " EXXI has been hit hard by the group pullback over the last few months, and we think the stock is undervalued at current levels, trading at only 0.6x our NAV. Given this, we're buyers of EXXI as we see ~60% upside from current level."
Shares of Energy XXI closed today at $22.89, down 4.51% from Tuesday's market close.
© 2014 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.