Rodman & Renshaw Maintains Rex Energy's Market Outperform Rating, Lowers PT to $17
Rodman & Renshaw maintains Rex Energy's (NASDAQ: REXX) Market Outperform rating and lowers its price target on Rex Energy from $18 to $17 in a research report out today.
In the report, Rodman & Renshaw writes, "While the slower growth rate does lead to our NAV falling $1 to $17, we're not going to complain when an E&P stops spending money on dry gas projects right now. And even with the reduced capex, REXX is still poised to put up strong growth numbers. We're maintaining our Market Outperform rating on the stock as we think the recent gas-price-driven sell-off has created an attractive entry point for investors."
Shares of Rex Energy closed today at $11.10, up 6.12% from yesterday's market close.
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