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Raymond James cuts its rating on Pioneer Drilling (PDC -3.3%) to Underperform from Outperform,...

Raymond James cuts its rating on Pioneer Drilling (PDC -3.3%) to Underperform from Outperform, saying its stance on the U.S. rig count hurts its earnings and cash flow estimates for 2012 and 2013. The firm also downgrades a raft of other energy stocks, including Weatherford (WFT -3.6%) to Underperform from Strong Buy.
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Comments (1)
  • Poor Texan
    , contributor
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    Straight down to underperform from outperform with no pause at buy or hold? It must have taken them a little longer to liquidate their positions than they expected.
    16 Apr 2012, 03:46 PM Reply Like
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