Major Writedown Not Expected at Magnum Hunter Resources (MHR), Says Analyst

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

For an analyst ratings summary and ratings history on Magnum Hunter (NYSE: MHR) click here. For more ratings news on Magnum Hunter click here.

Shares of Magnum Hunter closed at $3.32 yesterday.

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