UPDATE: Wunderlich Initiates Coverage on Vanguard Natural Resources at Buy

According to Wunderlich Securities, Vanguard Natural Resources

coverage is initiated at Buy. Wunderlich said that it is initiating coverage of Vanguard Natural Resources, LLC (

) with a Buy rating and a $33 price target. “Vanguard is now the third largest exploration and production (E&P) master limited partnership (

) in terms of enterprise value.” Vanguard Natural Resources closed yesterday at $26.44.