Wunderlich Securities Remains Confident in Harvest Natural Resources

In a report published Friday, 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) yesterday announced the extension of the Share Purchase Agreement for its interests in Venezuela that not only extends the timeframe of getting a deal done but also shows the buyer's focus on acquiring the interests. While this deal has now stretched on past the mid-2014 expected closing and is getting closer to the 10-month mark, we remain confident that Harvest will receive its payday based on the fact that the buyer is so focused on acquiring the assets and Venezuela can certainly use more oil production. With the tough energy tape the last few weeks and oil prices falling, we think many feel this puts the deal at risk, but we think it actually could help push the deal through given the benefits for Venezuela.” Harvest Natural Resources closed on Thursday at $3.68.