Morgan Stanley Maintains Underweight on Pioneer Natural Resources, Lowers Price Target to $219
Portfolio Pulse from Benzinga Newsdesk
Morgan Stanley analyst Devin McDermott has maintained an 'Underweight' rating on Pioneer Natural Resources (NYSE:PXD) and lowered the price target from $223 to $219.
July 18, 2023 | 2:29 pm
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Morgan Stanley has maintained an 'Underweight' rating on Pioneer Natural Resources and lowered the price target, which could negatively impact the stock's performance.
The 'Underweight' rating indicates that Morgan Stanley expects PXD's performance to be below average compared to other stocks. The lowering of the price target suggests that they believe the stock is currently overvalued, which could lead to a decrease in the stock price.
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