UPDATE: Brean Murray Carret Downgrades Rex Energy to Hold

Brean Murray Carret downgrades Rex Energy REXX to Hold from Buy baseed on share dilution from 7-million-share common offering. The $19 price target is suspended. Brean Murray Carret says, "Based on the dilution from this offering and the implied inability to generate liquidity from non-core asset sales, we do not see the shares trading up to our $15/share fair value estimate." REXX closed at $10.61 a share on Monday.