REX American Resources price target lowered to $55 from $60 at Truist

Truist lowered the firm’s price target on REX American Resources (REX) to $55 from $60 but keeps a Buy rating on the shares after its Q3 results. The company continues to live up to its reputation as a top-tier ethanol operator reporting another quarter of solid profitability and free cash flow generation as Rex pushes forward in the elements of its One Earth CCUS project that remain within their control, the analyst tells investors in a research note. The looming uncertainty surrounding 45z guidance amidst the upcoming changeover in administration is driving a price target cut, but Truist remains highly confident in REX management’s ability to adapt to any policy shifts while maintaining strong financial performance, the firm adds.