APA - Pioneer Natural tops list of new bullish oil picks at Bernstein

zhengzaishuru/iStock via Getty Images Pioneer Natural ([[PXD]] +4%) is one of several oil names upgraded to Outperform from Market Perform with a $202 price target, raised from $156, at Bernstein, as analyst Bob Brackett finds plenty of North American exploration and production names attractive. Oil is "the green wolf at the door," Brackett says, arguing for a transition to a "new and bullish paradigm" where the supply side of oil markets will reduce, re-allocate and return capital more rapidly than the pace of demand. The firm lifts its oil price deck to $75 for Brent crude and $73 for WTI. In addition to Pioneer, Brackett also raises APA ([[APA]] +7.5%), Devon Energy ([[DVN]] +6.7%) and Kosmos Energy ([[KOS]] +16.2%) to Outperform with respective price targets of $35, $37 and $7.80. Bank of America also weighed in with its bullish outlook on the oil market, seeing a robust global oil demand

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Pioneer Natural tops list of new bullish oil picks at Bernstein