Wunderlich Securities Sees Even Better Things To Come For Halcon Resources

In a report published Monday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $9.00 price target on

. In the report, Wunderlich Securities noted, “Halcon Resources (HK) last week announced that its second TMS well was on production and showed a solid initial production rate given the short lateral. This is certainly good news and shows that HK and many other operators in the region have shown solid progress in the play as well results improve as does the understanding. Outside of the TMS Halcon continues to generate strong results from the Williston and El Halcon plays that supports its solid growth expectations for 2014 and beyond. After the company's strong 2Q14 results and this recent news in the TMS we are surprised the stock has retraced some of the gains of late due to a weak energy tape. We feel these catalysts (as well as future ones) should lead the stock nicely higher.” Halcon Resources closed on Friday at $5.56.