Wunderlich Securities Sees Harvest Natural Resources Building Value in Gabon

In a report published Wednesday, Wunderlich Securities analyst Jason A. Wangler reiterated a Buy rating and $8.00 price target on

. In the report, Wunderlich Securities noted, “Harvest Natural Resources (HNR) continues to move the ball as far as it can down the field as it looks to exit Venezuela (and receive a nice payday in the process) but obviously is working through the process with the buyer (PlusPetrol) and the country. While this continues to take time we thought it would be a good time to look at the other main asset at Harvest as there is a real possibility quite soon that the company becomes an offshore Gabon player (hopefully, and in our view, with a cash balance higher than its current enterprise value). As we dug into the company's materials, and saw releases from multiple large companies taking positions in the region, we began to see the value in Gabon could not only be material but potentially even larger than the big payday out of Venezuela.” Harvest Natural Resources closed on Tuesday at $4.78.