Major Writedown Not Expected at Magnum Hunter Resources (MHR), Says Analyst
12:02 PM ET, 04/17/2013 - Street Insider
Yesterday it was learned that Magnum Hunter Resources Corp. (NYSE: MHR) fired its auditor, PwC. Since then shares have fallen 22 percent.
Commenting on news, analyst Neal Dingmann of SunTrust Robinson said a major write-down was unlikely. Additionally he doesn't thinks proven reserves, the company's credit facility, or sales in Eagle Ford will be affected.
SunTrust Robinson Humphrey has a Buy rating on Magnum Hunter with a price target of $10.00