UPDATE: Morgan Stanley Downgrades Halcon Resources Corp. to Underweight, Lowers PT on Risky 2014 Growth Outlook

In a report published Thursday, Morgan Stanley analyst Drew Venker downgraded the rating on

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 Corp. closed on Wednesday at $6.04.