BofA/Merrill Lynch Starts Memorial Resource Development (MRD) at Buy

July 8, 2014 6:55 AM EDT
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Price: $14.72 --0%

Rating Summary:
    8 Buy, 9 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 17 | Down: 11 | New: 18
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BofA/Merrill Lynch initiates coverage on Memorial Resource Development (NASDAQ: MRD) with a Buy rating and a price target of $32.00.

Analyst Jason Smith calls MRD a new 'go-to' name for gas exposure. The firm price target is based on 1x estimate risked net asset value. Memorial Resource Development's core asset is the Terryville Complex in Louisiana, where it is targeting the Cotton Valley trend.

For an analyst ratings summary and ratings history on Memorial Resource Development click here. For more ratings news on Memorial Resource Development click here.

Shares of Memorial Resource Development closed at $25.36 yesterday.

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