Goldman Sachs Riterates a ' Conviction-List Buy' on Oceaneering Intl (OII); Contract Win Big Positive

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Goldman Sachs reiterates a ' Conviction-List Buy' on Oceaneering Intl (NYSE: OII) price target of $56.00.

Analyst, Waqar Syed, said, "We view the recent contract momentum as positive, and believe that an expanding presence in Brazil and additional contract wins will continue to provide major catalysts for the stock in the near term. Our EPS estimates are currently unchanged as the contracts will not have an immediate revenue impact, but we are now more confident in our above-consensus EPS for 2012E, 2013E, and 2014E."

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 $48.22 yesterday, with a 52 week range of $31.77-$82.47.

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