Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Mel Spivak who wrote (3375)	11/20/1997 1:54:00 PM
From: RealMuLan	of 95453

Prudential upgrade (from Briefing.com) 11:55 ET ****** OIL DRILLERS: Prudential Securities is doing its part to rally the sector, following several days of severe selling experienced by the drillers. While most money-managers and investors agreed with analysts' observations that the sell-off was overdone, that did not prevent them from protecting themselves by selling now and waiting for the blood to stop running. Today, with buyers coming back into the sector and the overall market moving higher, Prudential is reiterating its "buy" rating on several names. On the list are: Grey Wolf (GW 7 3/16 +7/16), UTI Energy (UTI 30 5/8 +2 5/16), Nabors Industries (NBR 38 +1 1/4), and Falcon Drilling (FLC 33 +1 1/4). One of Prudential's top picks is Patterson Energy (PTEN 40 3/8 +1 17/8). Noting the strong fundamentals this stock and the general sector continue to enjoy, the firm set a 12-month price target of $66 a share on PTEN, which 63% above the stock's current price.

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