BofA/Merrill Lynch Starts Memorial Resource Development (MRD) at Buy
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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.
Shares of Memorial Resource Development closed at $25.36 yesterday.
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