Wells Fargo analyst Nitin Kumar raised his price target for Pioneer Natural to $200 from $191, while reiterating an Outperform rating on the shares. The analyst notes that the company took several tangible steps toward addressing investor demands for more capital disciplined growth and free cash flow generation with its Q4 earnings release. Kumar believes recent changes in leadership are more likely a precursor to a shift in strategy toward more shareholder cash returns, rather than an indication that the company is for sale - but he cannot rule out the possibility.