Pacific Drilling (PACD) Misses Q4 EPS by 20c

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KLR Group Cuts Price Target on Pacific Drilling (PACD) to $0.55 Mirroring a Widening of Credit Spreads

March 2, 2016 11:06 AM EST

KLR Group maintained a Hold rating on Pacific Drilling S.A. (NYSE: PACD), and cut the price target to $0.55 (from $3.00), following the company's 4Q earnings report. The dramatic value reduction mirrors a large widening of PACD credit spreads. By KLR's forecast, PACD should... More