Goldman Sachs Upgrades Pioneer Drilling Co (PDC) to Buy

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Goldman Sachs upgraded Pioneer Drilling Co (NYSE: PDC) from Neutral to Buy with a price target of $10.00, suggesting 43% upside.

"We believe valuation does not reflect its relatively strong cash flow visibility, underpinned by its high quality well servicing assets and contracts associated with its land drilling rigs," the firm comments.

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 $6.82 yesterday, with a 52 week range of $5.83-$17.22.

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