Magnum Hunter (MHR -5%) is downgraded to Hold from Buy with a $4.50 price target, down from...

|About: Magnum Hunter Resources Corp. (MHRCQ)|By:, SA News Editor

Magnum Hunter (MHR -5%) is downgraded to Hold from Buy with a $4.50 price target, down from $6.50, at Jefferies, following a reserve report which showed MHR's resources acquired and discovered are less prolific and more expensive than expected. But 2013 could be a turning point if MHR succeeds at selling high-cost properties and managing its overspending.