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Memorial Resource Development Corp (NYSE: MRD) received a number of price target changes and ratings updates during the last week:

  • Memorial Resource Development Corp is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $30.00 price target on the stock.
  • Memorial Resource Development Corp is now covered by analysts at Barclays. They set an “overweight” rating and a $33.00 price target on the stock.
  • Memorial Resource Development Corp is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $32.00 price target on the stock.
  • Memorial Resource Development Corp is now covered by analysts at Wells Fargo & Co.. They set an “outperform” rating on the stock.
  • Memorial Resource Development Corp is now covered by analysts at Stifel Nicolaus. They set a “buy” rating and a $30.00 price target on the stock. They wrote, “We are initiating coverage of Memorial Resources with a Buy rating and 12-month target price of $30 per share. Our target assumes the stock achieves 100% of our total risked net asset value (NAV) estimate. An emerging multi-zone horizontal Cotton Valley sand play in north Louisiana’s Terryville Field could drive our proved NAV estimate to $40/share at YE16 from $7/share at YE13 and annual production growth of 55% over this three-year period. Our total risked NAV is currently based on 180 net Terryville drilling locations, or less than 20% of the 990 net locations identified in the field. The latter implies a 28-year inventory based on the 2014 drilling pace.”
  • Memorial Resource Development Corp is now covered by analysts at RBC Capital. They set an “outperform” rating and a $28.00 price target on the stock.
  • Memorial Resource Development Corp is now covered by analysts at Raymond James. They set a “strong-buy” rating on the stock.
  • Memorial Resource Development Corp is now covered by analysts at Howard Weil. They set an “outperform” rating and a $33.00 price target on the stock.
  • Memorial Resource Development Corp is now covered by analysts at Bank of America. They set a “buy” rating and a $32.00 price target on the stock.

Shares of Memorial Resource Development Corp (NYSE:MRD) opened at 26.00 on Thursday. Memorial Resource Development Corp has a 52 week low of $21.07 and a 52 week high of $26.94. The stock’s 50-day moving average is $24.45 and its 200-day moving average is $24.45. The company has a market cap of $5.005 billion and a price-to-earnings ratio of 83.90.

Memorial Resource Development Corp. is an independent natural gas and oil company focused on the exploitation, development, and acquisition of natural gas, NGL and oil properties with a its activity in the Terryville Complex of North Louisiana, where the Company is targeting over pressured, liquids-rich natural gas opportunities in multiple zones in the Cotton Valley formation.

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