Goldman Sachs Initiates PDC Energy With Conviction Buy

Analysts at Goldman Sachs initiated coverage on

(NASDAQ:

) with a Conviction Buy rating. The target price for PDC Energy is set to $77. PDC Energy shares have dropped 10.33 percent over the past 52 weeks, while the S&P 500 index has surged 12.61 percent in the same period. PDC Energy shares rose 0.40 percent to close at $55.06 on Friday.