Deutsche Bank Lifts PT on Cameron International (CAM) to $78

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Deutsche Bank raised its price target on Buy-rated Cameron International (NYSE: CAM) from $65 to $78.

The firm comments, "We rate CAM a BUY as it enjoys a strong secular growth story in subsea and a strong backlog in its other business lines. Visibility, particularly on the subsea side, extends beyond 2012 and CAM’s shorter-cycle businesses (surface equipment and some of its valve segments) offer leverage to a cyclical recovery. We also believe that the pricing and margins embedded in the backlog are materially higher than current reported margins leaving the company poised for accelerating earnings growth in 2013 and 2014."

For an analyst ratings summary and ratings history on Cameron International click here. For more ratings news on Cameron International click here.

Shares of Cameron International closed at $52.99 yesterday, with a 52 week range of $38.38-$60.00.

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