Noble Financial Comments on GreenHunter Resources (GRH) Following 29% Run Higher

Noble Financial maintains a Buy rating and $2.25 target price on GreenHunter Resources (NYSE: GRH) following a recent run on the company's stock.

Analyst Philip Dodge offered the following commentary:

-- GreenHunter Resources was up 29% yesterday to $2.50, exceeding our price target of $2.25

-- The last news released on June 30 by the company was about a new pipeline project in Appalachia which would transport saltwater, condensate and other liquid to terminals thereby displacing truck transportation

-- Although positive, the pipeline project did not seem to affect the stock price nor would it explain the surge yesterday

-- Probably there is some good news coming, but we can only speculate on what it might be

-- When we know, it should be possible to estimate the importance of the event, and whether the importance affects our stock price target of $2.25

For an analyst ratings summary and ratings history on GreenHunter Energy click here. For more ratings news on GreenHunter Energy click here.

GreenHunter Energy closed at $2.50 yesterday.

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