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Olympia Capital Markets Initiates on RSC with a Buy Rating & $24 target

|Includes:REX American Resources Corporation (REX)

Chief Market Strategist and Alternative Energy Analyst, Paul J. Resnik, CFA initiated coverage on Rex Stores (which is changing its name on June 9th to REX American Resources Corporation and symbol to NYSE: REX) yesterday. 

His valuation is based on a discounted multiple of his 2011 EPS estimate + cash per share and real estate assets - getting to a 12-month price target of $24.00.

Disclosure: No position - I am an IR rep. for the company

Stocks: REX