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Miller Tabak on Halcon Resources; Will Significantly Outperform E&P Sector

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In a research note released Wednesday, Miller Tabak analyst Adam Michael initiated coverage on Halcon Resources Corporation (NYSE: HK) with a price target of 9.00.

The analyst believes that the company will “significantly outperform the E&P sector in 2014." Miller Tabak cited the reason for this as primarily because investors would begin to realize the massive upside of the company's divisions.

The analyst continued to say that this company offers growth and has a top-tier management team.

The analyst also expects to see multiple expansion in Halcon's stock price over the next 12 months as the company executes on its developmental drilling program and its balance sheet improves.

Shares of the company are up approximately two percent Wednesday and are up 73 percent year-to-date.

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