Market Overview

UPDATE: Credit Suisse Initiates Magnum Hunter Resources at Outperform on Inventory Build

Related MHR
Magnum Hunter Resources Announces Closing Of New Credit Facilities And Refinancing Of Prior Revolving Credit Facility
Encana to Divest Natural Gas Focused Clearwater Assets

Credit Suisse initiated coverage on Magnum Hunter Resources (NYSE: MHR) with an Outperform rating and a price target of $6 a share.

Credit Suisse noted, "Inventory Built, Ramping Oil/NGL Growth. MHR has spent ~$1.2 billion on acquisitions since 2009, building a deep, repeatable project inventory in some of the best North American onshore liquids plays, including the Eagle Ford, Three Forks, and liquids-rich Marcellus. MHR also offers attractive exploration exposure in the Utica and Pearsall shales. As a result of accelerating development in the Eagle Ford and Three Forks, we project that MHR will deliver production and cash flow growth at 66% and 83% CAGRs through 2013, well ahead of the Credit Suisse SMID-cap E&P peer medians of 16% and 27%, respectively."

Magnum Hunter Resources closed at $4.59 on Wednesday.

Latest Ratings for MHR

DateFirmActionFromTo
Oct 2014WunderlichMaintainsBuy
Oct 2014KLR GroupUpgradesHoldBuy
Oct 2014KeyBancMaintainsBuy

View More Analyst Ratings for MHR
View the Latest Analyst Ratings

Posted-In: Credit SuisseAnalyst Color Initiation Intraday Update Analyst Ratings

 

Related Articles (MHR)

Around the Web, We're Loving...

Get Benzinga's Newsletters