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Pride International, Inc. (PDE) [hlAlert]

Rating:
Neutral PDE

Pride International, Inc. (PDE) rated Neutral with price target $25 by Credit Suisse

Posted on: Friday,  Feb 20, 2009  8:25 AM ET by Credit Suisse

Pride Intl (PDE) rated
Neutral with price target $25 by Credit Suisse.

Pride International, Inc. (Pride) is an offshore drilling contractor operating, as of February 02, 2009, a fleet of 44 rigs, consisting of two deepwater drillships, 12 semisubmersible rigs, 27 jackups and three managed deepwater drilling rigs. The Company has four ultra-deepwater drillships under construction. Its customers include integrated oil and natural gas companies, state-owned national oil companies and independent oil and natural gas companies. Pride?s operations are conducted in oil and natural gas basins, including South America, the Gulf of Mexico, West Africa, the Mediterranean Sea, the Middle East and Asia Pacific. It provides contract drilling services to oil and natural gas exploration and production companies through the use of mobile offshore drilling rigs in United States and international waters. Pride provides the rigs and drilling crews and is responsible for the payment of operating and maintenance expenses.

Excellence in equity and fixed income research is a hallmark of Credit Suisse. Globally, our equity research analysts provide in-depth coverage of over 2,500 companies and engage in a knowledge-sharing, value added culture that has yielded the most insightful product for our customers and tremendous competitive results. Additionally, Credit Suisse's powerful macro-economic and debt strategy teams integrate the bank's comprehensive company research with keen market perspectives of the ever-shifting investment terrain.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
4/28/2010 8:25 AM Buy
None
32.31
as of 12/31/2009
1 Week   
1 Month   
3 Months   
1 YTD   
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/19/2010 10:25 AM Hold
None
29.15 32.00
2/20/2009 8:25 AM Hold
None
16.48 25.00

(*) Stock Price at the time of the recommendation.
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