Halcon Resources upgraded to Buy at MLV

Halcon Resources (HK -0.8%) is upgraded to Buy from Hold with an $8 price target at MLV & Co., which notes HK has suffered a rocky road to this point but believes its growth outlook has been enhanced by a focus on three core oil plays.

MLV says it is encouraged by consecutive quarters of better than expected execution, highlighted by a 2014 production guidance raise.

The firm says the market can't keep ignoring HK's continued execution, with the recent pullback in the stock unwarranted and representing a compelling entry point.

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Comments (3)
  • bgold1955
    , contributor
    Comments (2357) | Send Message
    Looking at rev growth (>400% 2013 vs 2012) HK appears to be doing things right. Long (small position) HK.
    18 Aug 2014, 11:44 AM Reply Like
  • timmr21
    , contributor
    Comments (30) | Send Message
    hate to say I told you so but...
    I told you so.
    18 Aug 2014, 02:48 PM Reply Like
  • Blue Bustard
    , contributor
    Comments (10) | Send Message
    Long Jan '16 $7 calls. Nice pop today.
    19 Aug 2014, 10:16 AM Reply Like
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