NEW YORK (TheStreet) -- Rice Energy (RICE) shares had coverage initiated with an "accumulate" rating by analysts at KLR Group, who set a $38 price target on the company's shares.

The company's price target represents a 26.2% upside from the stock's opening $30.10 price.

Rice Energy shares up 0.6% to $30.28 in early market trading on Monday

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RICE Chart RICE data by YCharts

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