Market Overview

UPDATE: Imperial Capital Upgrades Rex Energy to Outperform on Production, Capex Growth

Related REXX
Mid-Afternoon Market Update: NQ Mobile Climbs On SEC Filing; Huntsman Shares Slide
Markets Rise; Best Buy Q2 Revenue Misses Street View

Imperial Capital raised its rating on Rex Energy (NASDAQ: REXX) from In-Line to Outperform and increased its price target from $14 to $16.

Imperial Capital said, "We believe the company issued an outstanding proved reserve report and update and shares are now more attractive from a cash flow and asset value standpoint… As a result of the increased asset value, and earnings and cash flow estimates, as well as the meaningful catalysts we see on the horizon, particularly from the Utica shale in the Guernsey/Noble County area, thus leading us to upgrade our rating to Outperform and increase our price target to $16.00/share."

Rex Energy closed at $12.12 on Monday.

Latest Ratings for REXX

DateFirmActionFromTo
Nov 2014BMO CapitalDowngradesOutperformMarket Perform
Nov 2014Canaccord GenuityMaintainsHold
Nov 2014Imperial CapitalMaintainsOutperform

View More Analyst Ratings for REXX
View the Latest Analyst Ratings

Posted-In: imperial capitalAnalyst Color Upgrades Intraday Update Analyst Ratings

 

Related Articles (REXX)

Around the Web, We're Loving...

Get Benzinga's Newsletters