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: Big Dog who wrote (70102)	7/27/2000 11:29:58 AM
From: Big Dog	Read Replies (1) of 95453

From a Frost Securities note on Pride this morning: In summary, the market is improving faster than anticipated on the jackup and land rig segments, however the mid-range semisubmersible market is lagging due to excess capacity. Pride is winding down its construction projects and should begin reducing its debt load as soon as early 2001. The company is set to reap the benefits since it is highly leveraged to the market with its large fleet of rigs worldwide. We strongly recommend the stock at current levels for the more aggressive investor. Our 12-month target price is $47 per share based on 30x 2001 earnings estimates.

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