Hold - Price 5.46 on March 24
by Jefferies & Co.

MMR has reduced 2009 [capital expenditure] and production targets modestly. Credit facility is currently being redetermined, but we think MMR has sufficient liquidity for...'09. Our 5.50 target is derived from our net-asset-value model utilizing $55 oil and $6 natural gas and is based on estimated year-end '09 proven reserves (down 8% from [year-end] '08). Our price target attributes no explicit value to MMR's exploration portfolio...although we assume MMR will replace reserves in 2009, which will require additional exploration success. Risks include commodity prices, unsuccessful exploration, and project delays, especially those resulting from hurricanes. Market cap: $385 million.

good drilling prospects

151,500 1,425

PE of 16.

Recommended by Motley Fool MI 78_RPM screen.

From a recent Mad Money show:

"This stock has had a double, I have to tell you to take money off the table. Take some profits and let the rest run."

McMoRan Exploration (MMR) was downgraded by Stanford Research from Buy to Hold.

cramer

Nat Gas is way too cheap & these guys made a great acquisition

growth

like these guys as a spec. but lose sleep hoping they'll hit pay dirt.

slow climb

PRICE INCREASE