UPDATE: Morgan Stanley Reiterates On Halcon Resources On Balanced Risk-Reward
In a report published Tuesday, Morgan Stanley analyst Drew Venker reiterated an Equal-Weight rating on Halcon Resources (NYSE: HK), and raised the price target from $3.50 to $6.00.
In the report, Morgan Stanley noted, “Risk-reward is relatively balanced after recent outperformance. Halcon discounts credit for large resource potential, but has significant leverage to both exploration success (or disappointment) and commodity prices. Halcon is a leader in well completion design, which can dramatically influence capital productivity. Success with new well designs could significantly improve returns and lead to upside in the stock.”
Halcon Resources closed on Monday at $6.22.
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