Barclays Upgrades Pioneer Natural Resources (PXD) to Overweight; Looking Again After Recent Dip

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Barclays upgraded Pioneer Natural Resources (NYSE: PXD) from Equalweight to Overweight with a price target of $104.00 (from $122.00).

Analyst, Thomas Driscoll, is making adjustments to forecasts, oil and NGL price assumptions adjusting eight stocks in their coverage universe. For PXD, shares have dropping significantly since May 1, 2012 (approx 25% haircut) and there may be some growth and value here.

Drsicoll lowers FY12 EPS estimate from $5.30 to $3.30 and FY13 from $6.75 to $5.10.

For an analyst ratings summary and ratings history on Pioneer Natural Resources click here. For more ratings news on Pioneer Natural Resources click here.

Shares of Pioneer Natural Resources closed at $88.21 yesterday, with a 52 week range of $58.63-$119.19.

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