Morgan Stanley Thinks Solid Earnings Support Confidence in Pioneer Natural Resources

In a report published Tuesday, Morgan Stanley analyst Evan Calio reiterated an Equal-Weight rating and $220.00 price target on

. In the report, Morgan Stanley noted, “PXD 4Q13 earnings were in-line. While 1Q14 guidance was ~5% below Street, full year 2014 and long-term guidance was in-line. Total resource is up 2Bnboes, Wolfcamp B EURs are higher and proved reserves lower, for likely net NAV increase.” Pioneer Natural Resources closed on Monday at $186.93.