UPDATE: Wunderlich Securities Reiterates On Halcon Resources On Upcoming TMS Catalysts

In a report published Thursday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating on

, and raised the price target from $7.00 to $9.00. In the report, Wunderlich Securities noted, “Halcon Resources (HK) has seen a solid improvement of its stock price on the continued growth of its Tuscaloosa Marine Shale (TMS) acreage position and initial activity. Upcoming data points including peer well results (which recently have been solid), Halcon's initial well results, and the potential for a joint venture in the sizeable asset could really begin to show the value in the play while also allowing Halcon to boost its production and liquidity positions nicely. "These moves in our view are not priced into the stock but with the increasing confidence seen in the TMS along with Halcon's reputation we think this is an opportunity to get into the name on the eve of these potentially strong catalysts that could drive the stock toward peer group multiples.” Halcon Resources closed on Wednesday at $6.05.