Goldman Sachs Starts Pioneer Drilling Co (PDC) at Neutral

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Goldman Sachs initiates coverage on Pioneer Drilling Co (NYSE: PDC) with a Neutral. PT $10.00.

The firm said the focus on differentiated assets promotes stability, long-term outlook.

Goldman calls PDC a a high beta investment in NAM land, but said its focus on more differentiated assets (land drilling rigs, workover rigs, coiled tubing) positions it well to maintain margins during periods of market volatility.

For an analyst ratings summary and ratings history on Pioneer Drilling Co click here. For more ratings news on Pioneer Drilling Co click here.

Shares of Pioneer Drilling Co closed at $7.08 yesterday, with a 52 week range of $5.83-$18.00.

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