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Analyst Actions: Pioneer Natural Resources Initiated With Outperform, $150 TP; Shares Dip 1%

By: MT Newswires
Posted: 2/13/2013 12:45:00 PM
Referenced Stocks: PXD

Analysts at Credit Suisse have initiated coverage of Pioneer Natural Resources ( PXD ) with an Outperform rating and a price target of $150 a share.

"PXD's Permian Basin footprint is poised to deliver top quartile cash flow and oil volume growth on a debt adjusted basis," said Credit Suisse. "We see significant optionality to the mix shift towards horizontal drilling."

Shares of PXD are down 0.88% in afternoon trading to $127.37, which is in the high end of the stock's 52-week range of $77.41 - $130.80.