UPDATE: Wunderlich Upgrades Harvest Natural Resources to Buy on Multiple Opportunities Ahead

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler upgraded the rating on Harvest Natural Resources HNR from Hold to Buy, and raised the price target from $4.75 to $9.00. In the report, Wunderlich Securities noted, “We believe Harvest Natural Resources (HNR) is on the cusp of showing the market the true value of its Gabon and Indonesia assets through market transactions. If successful, this would allow Harvest to generate significant cash it could then use to develop the Gabon and newly-acquired Colombia positions. Harvest has shown in the past its ability to attract buyers for international (and domestic) assets. Though the Venezuela deal wasn't able to close we feel it was due to country-specific issues; at this point Harvest is focusing on what it can control while maintaining a very valuable option in Venezuela if things improve. We should hear about multiple value-adding transactions in the coming months and the upside/downside risk is back in investors' favor. Thus, we are upgrading to Buy.” Harvest Natural Resources closed on Friday at $3.94.