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Enter Symbol:
 
Pride International, Inc. (PDE) [hlAlert]

Rating:
Buy PDE
down 12.05 %

Pride International, Inc. (PDE) rated Buy with price target $31 by Jefferies & Co

Posted on: Friday,  Jul 31, 2009  8:25 AM ET by Jefferies & Co

Jefferies & Co rated Buy Pride International, Inc. (NYSE: PDE) on 07/31/2009. Previously Jefferies & Co rated Buy Pride International, Inc. (NYSE: PDE)
on 06/25/2008., when the stock price was $46.28. Since then, Pride International, Inc. has lost 12.06% as of 05/31/2011's recent price of $40.70.
If you would have followed the previous Jefferies & Co's recommendation on PDE, you would have lost 12.05% of your investment in 1070 days.

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.

Our focus on growing and mid-sized companies enables us to identify unique investment ideas, which can make the difference in a tough market. Jefferies' research effort covers U.S. & International equity, high yield, convertibles, investment grade fixed income and post-reorganization securities, as well as special situations and quantitative research. The more than 120-person team of research professionals covers over 1,200 companies in more than 40 industries worldwide. Our analysts focus on identifying emerging industry themes and dig deeper to provide in-depth, thought provoking, objective research. Our analysts use a variety of quantitative and qualitative tools, integrating field analysis, proprietary channel checks and ongoing dialogue with the managements of the companies they cover. We utilize the latest technologies to deliver a research product that is timely, differentiated, and tailored to each customer's needs. Regular client access to companies and their management teams is provided through a wide variety of Jefferies hosted industry conferences, company management meetings and on-site tours.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
7/31/2009 8:25 AM Buy
None
25.18 31.00
as of 12/31/2009
1 Week down  -1.50 %
1 Month up  3.16 %
3 Months up  7.19 %
1 YTD up  104.19 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
2/20/2009 8:25 AM Buy
None
16.48 21.00
6/25/2008 9:25 AM Buy
None
46.28 54.00

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