Jefferies Maintains Magnum Hunter Buy

Jefferies maintained its Magnum Hunter (NYSE: MHR) Buy rating in a research report published today. Jefferies has previously given Magnum Hunter an $11 price target.

In the report, Jefferies states, "Mid-year reserve growth shows transformative nature of acquisitions. Organic growth tracking below our expectations; however, should ramp in the second half of the year. Stock currently trading in-line with our 2012 P1 estimate."

Shares of Magnum Hunter were trading at $6.90 at the time of posting, down 0.29% from Wednesday's market close.