Jefferies Maintains Buy Rating and $9 PT on Magnum Hunter

A report from Jefferies reiterates its Buy rating and $9 price target on Magnum Hunter

. The report states, “Eagle Ford, Bakken, and Marcellus volumes all poised to more than double in '12. Longer lateral lengths and greater frac stages should boost IPs and improve economics of both the Eagle Ford and Marcellus. Appalachia midstream spinoff and semi-annual borrowing base redeterminations represent multiple nearterm liquidity enhancement opportunities.” MHR closed Friday at $4.52.