Market Overview

UPDATE: Canaccord Genuity Lowers Magnum Hunter Resources' PT

Related MHR
Will Magnum Hunter (MHR) Continue to Surge Higher? - Tale of the Tape
Mid-Day Market Update: Quiksilver Slips After Wider Loss; InterDigital Shares Surge

According to a research report published this morning, Canaccord Genuity has lowered Magnum Hunter Resources' (NYSE: MHR) PT to $6.50.

In the report, Canaccord Genuity mentioned, "We are reiterating our BUY rating but revising our target price to $6.50 following Magnum Hunter's latest financial results, equity/debt financing and project updates. While we acknowledge the improving well results in the Williston Basin (particularly in Tableland), we continue to favor MHR's Eagle Ford assets from a capital productivity perspective. As such, we believe the recent equity underperformance associated with the transaction financing has overly discounted the company's broad opportunity set of liquids targets and relative growth potential."

Canaccord Genuity maintains its Buy rating on Magnum Hunter Resources, which closed yesterday at $4.36.

Posted-In: Canaccord GenuityAnalyst Color Price Target Analyst Ratings

 

Most Popular

Related Articles (MHR)

Around the Web, We're Loving...

Partner Network

Get Benzinga's News Delivered Free