Jefferies maintains PDI at hold

PDI, Inc. was maintained by Jefferies & Co. Inc. analyst David Windley at a hold rating with a $12 price target after third-quarter results showed weaker losses of $0.30 per share and much higher costs than anticipated. Jefferies said it believes management still is grappling with formulation of a satisfactory turnaround plan with expense cutting as a key focus. Jefferies said management is not in a position to guide for the fourth quarter, let alone for 2006. Shares of the Saddle River, N.J.-based pharmaceutical sales and marketing outsourcing company were up $0.10, or 0.77%, at $13.15 on volume of 34,844 shares versus the three-month running average of 56,598.5 shares.

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