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UPDATE: Citigroup Raises PT on Pioneer Natural Resources Following Management Meeting

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In a report published Wednesday, Citigroup analyst Robert S. Morris reiterated a Buy rating on Pioneer Natural Resources (NYSE: PXD), and raised the price target from $148.00 to $190.00.

In the report, Citigroup noted, “We recently met with Pioneer President and COO, Tim Dove, and EVP of Business Development & Geoscience, Chris Cheatwood, to get a detailed update on the company's operations. Based on our extensive meeting at their offices, we have heightened confidence in the quality and potential of Pioneer's Permian Basin assets. Consequently, and noting there are still limited data points at this juncture, we have raised our price target to $190 per share (our new ‘Base Case') from $148 (now our ‘Low Case').”

Pioneer Natural Resources closed on Tuesday at $153.49.

Latest Ratings for PXD

DateFirmActionFromTo
Aug 2014Canaccord GenuityDowngradesBuyHold
Aug 2014BarclaysMaintainsEqual-weight
Aug 2014KLR GroupUpgradesHoldAccumulate

View More Analyst Ratings for PXD
View the Latest Analyst Ratings

Posted-In: Citigroup Robert S. MorrisAnalyst Color Price Target Analyst Ratings

 

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