UPDATE: Morgan Stanley Downgrades Halcon Resources on Risky 2014 Growth Outlook
In a report published Thursday, Morgan Stanley analyst Drew Venker downgraded Halcon Resources (NYSE: HK) from Overweight to Underweight, and lowered the price target from $14.00 to $4.00.
In the report, Morgan Stanley noted, “Halcon discounts credit for large resource potential that has significant geologic risk. The 2014 growth outlook is at risk, in our view, which makes us more cautious than the Street.”
Halcon Resources closed on Wednesday at $6.04.
Latest Ratings for HK
|May 2015||Roth Capital||Initiates Coverage on||Buy|
|Mar 2015||GMP||Initiates Coverage on||Hold|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.