Jefferies maintained its Magnum Hunter MHR Buy rating in a research report published today. Jefferies has previously given Magnum Hunter an $11 price target.
In the report, Jefferies states, "Mid-year reserve growth shows transformative nature of acquisitions. Organic growth tracking below our expectations; however, should ramp in the second half of the year. Stock currently trading in-line with our 2012 P1 estimate."
Shares of Magnum Hunter were trading at $6.90 at the time of posting, down 0.29% from Wednesday's market close.
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