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FBR Capital Markets began coverage on shares of Independence Contract Drilling (NYSE:ICD) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $14.00 price target on the stock. FBR Capital Markets’ target price indicates a potential upside of 21.74% from the stock’s previous close.

ICD has been the subject of a number of other recent research reports. Analysts at RBC Capital initiated coverage on shares of Independence Contract Drilling in a research note on Tuesday. They set an “outperform” rating and a $13.00 price target on the stock. Analysts at Cowen and Company initiated coverage on shares of Independence Contract Drilling in a research note on Tuesday. They set an “outperform” rating and a $14.00 price target on the stock.

Shares of Independence Contract Drilling (NYSE:ICD) traded up 4.26% on Tuesday, hitting $11.99. The stock had a trading volume of 530,572 shares. Independence Contract Drilling has a 1-year low of $10.61 and a 1-year high of $11.61. The stock has a 50-day moving average of $11.12 and a 200-day moving average of $11.12. The company’s market cap is $268.5 million.

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