Pit is a pretty even match up, but you have to know what to watch out for -
His down b, the shield, can reflect your direction of PKT2. (i.e.) if you're recovering, and you PKT2 from a distance off the stage, Pit jumps off and pulls out of his shield, and you bounce off and change direction, getting gimped. Be careful.
Pit has a bit of range and disjoint and he can be hard to hit. He has 2 reflectors, and they can come out pretty quick. Pit has to be weary of his arrows in this match up, but don't miss a chance to absorb them, they're really easy to see coming.
Pit is just as light as you are, and Lucas has an easier time killing than Pit does. You should definitely live longer. I think this match up should be in Lucas' advantage 55-45, but the topic says otherwise.
PsiM as an attack is...risky. Certain characters can easily punish you, but it's really easy to bait characters like Mario, Lucario, and Ice Climbers (I don't recommend this against ICs) into it.
It punishes rolls and spot dodgers well, but there are better options for punishing frequent spot dodging (lol usmash)