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

Rating:
Overweight
PDE
up 23.93 %

Pride International, Inc. (PDE) upgraded to Overweight with price target $35 by Barclays Capital

Posted on: Monday,  Nov 8, 2010  12:25 PM ET by Barclays Capital

Barclays Capital rated Overweight Pride International, Inc. (NYSE: PDE) on 11/08/2010. Previously Barclays Capital rated
Equal Weight Pride International, Inc. (NYSE: PDE) on 05/08/2009., when the stock price was $22.35. Since then, Pride International, Inc. has gained 46.94% as of 11/08/2010's recent price of $32.84.

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.

Barclays Capital has assembled a world-class, award-winning team of analysts covering, credit, commodities, economics, emerging markets, equities, fixed income, foreign exchange and market strategy. We provide in-depth analysis of companies and macro coverage across asset classes, markets and the world’s economies. We have a highly quantitative approach and our research is underpinned by sophisticated analytics. Combined, these provide clients with the tools and insights necessary for successful risk management and financing. Our research teams are based in many of the world’s major financial centres providing our clients with a globally integrated perspective across products and geographies.
Stock Market Advice
Date/Time (ET)SymbolRatingTermPrice (*)Target
11/8/2010 12:25 PM Buy
None
32.84 35.00
as of 12/31/2010
1 Week down  -0.39 %
1 Month up  4.91 %
3 Months down  -0.63 %
1 YTD down  -0.63 %
Previous Recommendations
Date/Time (ET)SymbolRatingTermPrice (*)Target
5/8/2009 8:25 AM None
None
22.35
2/20/2009 11:25 AM Buy
None
16.74 31.00

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