Jefferies cuts PDI target

Jefferies & Co., Inc. analyst David Windley kept PDI, Inc. at a hold rating and lowered the price target to $11. According to Windley, PDI has lost its major customers, will lose money and faces stiff competition to win new business. The company reported third-quarter earnings per share of $0.05 on $51 million in revenues, compared to the analyst's estimate of $0.05 on $52 million. Shares of the Saddle River, N.J.-based outsourced sales and marketing company were down 25 cents, or 2.36, at $13.34. (Nasdaq: PDII)

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