Pioneer Energy +7.2% on Wunderlich upgrade

|About: Pioneer Energy Services (PES)|By:, SA News Editor

Pioneer Energy Services (PES +7.2%) is upgraded to Hold from Sell at Wunderlich, as shares are now properly valued after slipping ~20% since late October.

PES has seen solid utilization rates across its business lines but pricing remains flattish and with the firm's view of a relatively flat U.S. rig count in 2014, especially early in the year given weather constraints, it feels the numbers put out in October remain relevant.