UPDATE: Wunderlich Initiates Coverage on Pacific Drilling SA on Attractive Pure Play

In a report published Wednesday, Wunderlich Securities analyst Todd P. Scholl initiated coverage on Pacific Drilling SA (NYSE: PACD ) with a Buy rating and $16.00 price target. In the report, Wunderlich Securities noted, “We are initiating coverage of Pacific Drilling (PACD) with a Buy rating and a price target