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UPDATE: Deutsche Bank Initiates Magnum Hunter Resources at Buy with $6 PT

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Deutsche Bank initiated its coverage on Magnum Hunter Resources (NYSE: MHR) with a Buy rating and a $6 price target based on asset attractiveness.

Deutsche Bank commented, "With core assets located in three of the Lower 48's premier plays, Magnum Hunter Resources offers an attractive small-cap play on the Eagle Ford and Bakken. Despite peer leading volume and cash flow growth over the next 18 months and much improved operating scale and financial liquidity, MHR's valuation discount still appears to reflect prior uncertainty surrounding growth and funding."

Magnum Hunter Resources closed at $3.98 on Thursday.

Latest Ratings for MHR

DateFirmActionFromTo
Dec 2014Deutsche BankMaintainsHold
Dec 2014Imperial CapitalMaintainsIn-line
Nov 2014Imperial CapitalMaintainsIn-line

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Posted-In: Deutsche BankAnalyst Color Initiation Pre-Market Outlook Analyst Ratings

 

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