Goldman Sachs Reiterates a 'Conviction Buy' on Oceaneering Intl (OII); Go Go Growth Drivers

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Goldman Sachs reiterates a 'Conviction Buy' on Oceaneering Intl (NYSE: OII) price target of $68.00 (from $66.00).

Analyst, Wagar Syed, said, "OII is an investment in the combination of increased deepwater drilling and construction activity, as well as enhanced safety measures put in place post-Macondo. The biggest drivers of OII’s EPS growth in the coming years should be: (1) start-up of underconstruction deepwater rigs, (2) restart of the subsea hardware order and installation cycle as the industry develops its various deepwater development projects, and (3) heightened industry commitment to enhance safety in global deepwater projects."

For an analyst ratings summary and ratings history on Oceaneering Intl click here. For more ratings news on Oceaneering Intl click here.

Shares of Oceaneering Intl closed at $53.01 yesterday, with a 52 week range of $31.77-$57.16.

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