Will This Coverage Initiation Help Memorial Resource Development (MRD) Stock Today?

Andrew Meola

Jul 8, 2014 9:27 AM EDT

NEW YORK (TheStreet) -- Barclays initiated coverage on Memorial Resource Development (MRD) with an "overweight" rating and a $33 price target. The firm said the Cotton Valley formation should deliver peer-leading production growth with excess cash flow.

The stock was up 2.76% to $26.06 in pre-market trading on Tuesday.

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Keywords: Stock Ratings, SpeedDesk

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