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Resolute Energy (REN) Stock Surges, Raised to 'Buy' at Wunderlich

NEW YORK (TheStreet) -- Shares of Resolute Energy (REN) are up by 43.42% to $5.45 on heavy trading volume on Monday afternoon, as Wunderlich raised its rating on the company to "buy" from "hold" this morning.

So far today, 3.01 million shares of Resolute Energy have traded vs. its average of 146,429 shares.

The firm raised the Denver-based independent oil and gas company's price target to $8 from $4.

This upgrade is a result of Resolute Energy's announcement last week that detailed beneficial...