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