Market Overview

UPDATE: Global Hunter Securities Downgrades Rex Energy Corporation to Accumulate on Limited Upside

Related REXX
Rex Energy Announces Proposed $250 Million Offering Of Senior Notes
MarkWest Opens Cryogenics Plant - Analyst Blog

Global Hunter Securities reduced its rating on Rex Energy Corporation (NASDAQ: REXX) from Buy to Accumulate with a reiterated $15 price target.

Global Hunter Securities commented, "With Marcellus Shale drilling activity staid for the year and limited Utica drilling activity and news flow likely for the next several months, we see few catalysts in the near term for REXX shares. As a result and with limited upside to our $15 price target, we are reducing our rating to Accumulate from Buy. A potentially material increase in reserve value related to ethane marketability and REXX's ATEX pipeline agreement could excite investors early in 2013, but we already flow substantial NGLs production through our valuation model for the contracted period."

Rex Energy Corporation closed at $ on Wednesday.

Posted-In: Global Hunter SecuritiesAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Most Popular

Related Articles (REXX)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters