Pride International (PDE) NewsBite - PDE Upgraded By Jesup & Lamont

Posted: Monday, November 09, 2009 1:47 PM EDT

Pride International (PDE) was upgraded today by analysts at Jesup & Lamont and the stock is now at $32.12, up $1.76 (5.8%) on volume of 979,052 shares traded. The brokerage upped PDE to Buy from Hold. Over the last 52 weeks the stock has ranged from a low of $11.38 to a high of $34.67. Pride International stock has been showing support around $29.19 and resistance in the $32.47 range. Technical indicators for the stock are bullish and S&P gives PDE a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on PDE the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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