Halcon Resources upgraded to Buy at MLV

|About: Halcon Resources Corporation (HK)|By:, SA News Editor

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.