Deutsche Bank Starts Pacific Drilling S.A. (PACD) at Buy; Pure Play Deepwater Driller

Deutsche Bank initiates coverage on Pacific Drilling S.A. (NYSE: PACD) with a Buy. PT $11.00.

Deutsche analyst says, "As one of only two pure-play deepwater drillers, PACD is a unique play on both improving near-term fundamentals and one of the best secular growth stories in the industry. With a fleet of six ultra-deep drillships (four delivered and two to be delivered in 2013), PACD has both the youngest and the most targeted fleet in the industry. PACD is well positioned to benefit from rising deepwater dayrates and limited near-term supply growth."

For an analyst ratings summary and ratings history on Pacific Drilling S.A. click here. For more ratings news on Pacific Drilling S.A. click here.

Shares of Pacific Drilling S.A. closed at $8.94 yesterday.

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