Wells Fargo upgraded Pioneer Natural to Equal Weight from Underweight with a price target of $220, down from $225. The firm said that Pioneer shares are down 12% since Wells’ initiation coverage in January and have underperformed the XOP by 8% during the same period. Wells Fargo added that corrective actions by management to address productivity issues, Q4 results, and recent share price fall have meaningfully de-risked the stock.
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Published first on TheFly
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