Jefferies Downgrades Pioneer Drilling Co (PDC) to Hold

Jefferies downgraded Pioneer Drilling Co (NYSE: PDC) from Buy to Hold with a price target of $10.50 (down from $11.50).

The firm comments, "We are downgrading the NAM land drillers (NBR, PTEN, PDC, and UDRL) to reflect more cautious NAM land rig and pressure pumping expectations and a less favorable risk/reward profile to other names in our OFS universe."

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 $9.98 yesterday.

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