UPDATE: Wunderlich Securities Initiates Memorial Production Partners LP at Buy on Sponsor Asset Leverage

Wunderlich Securities initiated coverage on Memorial Production Partners LP MEMP with a Buy rating and a $22.00 price target. Wunderlich Securities commented, "We believe Memorial is an attractive investment due to its high relative yield, total return potential, limited exposure to commodity prices due to its hedging program, and potential dropdowns from its sponsor. Memorial should be able to leverage its relationship with Memorial Resource Development and Natural Gas Partners Funds to grow its asset base through dropdowns and third party acquisitions." Memorial Production Partners LP closed at $18.58 on Tuesday.