Jefferies Raises Pride International PT To $41, Maintains Hold (PDE)

Jefferies raised its Pride International PDE price target from $36 to $41 and maintained Pride International's Hold rating in a research report published today. In the report, Jefferies states, "While we favor PDE's premium UDW fleet, good earnings visibility, and outsized EPS growth in 2012 and beyond, we are maintaining our Hold rating given the pending acquisition of by Ensco (ESV, $53.89, Buy) announced on February 7, 2011." Shares of Pride International closed Thursday at $40.55, up 0.05% from Wednesday's market close.