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Gold/Mining/Energy : Pride Petroleum Services (PDE)

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To: Bill Zeman who wrote (403)4/19/1999 7:49:00 PM
From: DEER HUNTER  Read Replies (1) of 454
 
where is everyone? Here's an upgrade on PDE from today.

Monday April 19, 4:16 pm Eastern Time

RESEARCH ALERT-Hanifen upgrades oilfield services

CHICAGO, April 19 (Reuters) - Hanifen, Imhoff said Monday it upgraded 10 stocks in the oilfield services industry, three to buy from accumulate, three to buy from hold and four to accumulate from hold.

-- Hanifen says in a report it is ''increasingly convinced that the fundamental change in the prevailing trend in crude oil prices is sustainable.''

-- Says expects second half 1999 and 2000 oilfield service industry results to be ''far'' better than those reported in late 1998 and early 1999.

-- Says recommends investors build positions in select oilfield service company stocks ''and view pullbacks as major opportunities to build substantial long-term positions.''

-- Upgrades Helmerich & Payne Inc. (HP - news), Santa Fe International Corp. (SDC - news) and Veritas DGC Inc. (VTS - news) to buy from accumulate.

-- Upgrades Marine Drilling Cos. Inc. (MRL - news), Pride International Inc. (PDE - news) and Unit Corp. (UNT - news) to buy from hold.

-- Upgrades Atwood Oceanics Inc. (ATW - news), Eagle Geophysical Inc. (EGEO - news), R&B Falcon Corp. (FLC - news) and Transocean Offshore Inc. (RIG - news) to accumulate from hold.
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