It has been pointed out that the recent BaBar data on the pi gamma^* -> gamma transition form factor F_{pi gamma}(Q^2) at low (high) momentum transfer squared Q^2 indicate an asymptotic (flat) pion distribution amplitude. These seemingly contradictory observations can be reconciled in the k_T factorization theorem: the increase of the measured Q^2F_{pi gamma}(Q^2) for Q^2 > 10 GeV^2 is explained by convoluting a k_T dependent hard kernel with a flat pion distribution amplitude, k_T being a parton transverse momentum. The low Q^2 data are accommodated by including the resummation of alpha_s ln^2x, x being a parton momentum fraction, which provides a stronger suppression at the endpoints of x. The next-to-leading-order correction to the pion transition form factor is found to be less than 20% in the considered range of Q^2.
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