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Stock analysts at Wunderlich initiated coverage on shares of Memorial Resource Development Corp (NYSE:MRD) in a report issued on Thursday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $35.00 price target on the stock. Wunderlich’s price objective points to a potential upside of 42.68% from the company’s current price.

Shares of Memorial Resource Development Corp (NYSE:MRD) opened at 24.53 on Thursday. Memorial Resource Development Corp has a 52 week low of $21.07 and a 52 week high of $26.94. The stock has a 50-day moving average of $24.67 and a 200-day moving average of $24.67. The company has a market cap of $4.722 billion and a P/E ratio of 79.32.

MRD has been the subject of a number of other recent research reports. Analysts at Bank of America initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday, July 8th. They set a “buy” rating and a $32.00 price target on the stock. Separately, analysts at Howard Weil initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday, July 8th. They set an “outperform” rating and a $33.00 price target on the stock. Finally, analysts at Raymond James initiated coverage on shares of Memorial Resource Development Corp in a research note on Tuesday, July 8th. They set a “strong-buy” rating on the stock. Nine investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Memorial Resource Development Corp presently has a consensus rating of “Buy” and an average price target of $31.63.

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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