Market Overview

UPDATE: Canaccord Lowers PT on Pioneer Natural Resources on Current Valuation

Share:
Related PXD
20 Biggest Mid-Day Losers For Thursday
25 Stocks Moving In Thursday's Pre-Market Session

Canaccord analyst John Gerdes published a report on Pioneer Natural Resources (NYSE: PXD) that reiterated its Sell rating and lowered the price target from $113 to $112.

Canaccord reported that, “We are lowering our target price $1 to $112/share due to the upsizing of the company's equity offering. Importantly, our '13 growth expectation of ~16%, which is at the high end of guidance (12%-16%), could prove optimistic as it assumes the capital intensity of horizontal development in the Spraberry field is comparable to vertical development.”

Shares of Pioneer Natural Resources closed at $127.11 on Tuesday.

Latest Ratings for PXD

DateFirmActionFromTo
Apr 2017Stifel NicolausReinstatesBuy
Mar 2017Seaport GlobalDowngradesBuyNeutral
Mar 2017MizuhoUpgradesNeutralBuy

View More Analyst Ratings for PXD
View the Latest Analyst Ratings

Posted-In: CanaccordAnalyst Color Price Target Analyst Ratings

 

Related Articles (PXD)

View Comments and Join the Discussion!