Citi analyst Scott Gruber upgraded Pioneer Natural to Buy from Neutral with a price target of $210, up from $193. The analyst recommends investors "focus on catalysts and quality" within exploration and production. Capital efficiency should improve for domestic E&Ps on lower service rates, and Pioneer Natural should also experience rising well productivity in the second half of the year, the analyst tells investors in a research note. Pioneer Natural is among Citi’s top picks in the sector.
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Published first on TheFly
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