NEW YORK (TheStreet) -- Halcon Resources (HK) stock is gaining Thursday after Wunderlich Securities upped its price target to $9 from $7 and reiterated a "buy" rating. The firm cited potential good news stemming from the upcoming issue of well results out of its Tuscaloosa Marine Shale property. By late afternoon, shares had added 4.8% to $6.34.
"Upcoming data points including peer well results (which recently have been solid), Halcon's initial well results, and the potential for a joint venture in the sizeable asset could really begin to show the value in the play while also allowing Halcon to boost its production and liquidity positions nicely," analyst Jason Wangler wrote in the report.
Separately, TheStreet Ratings team rates HALCON RESOURCES CORP as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate HALCON RESOURCES CORP (HK) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity and feeble growth in its earnings per share."