Goldman Sachs Upgrades Oceaneering Intl (OII) to Conviction Buy

Goldman Sachs upgraded Oceaneering Intl (NYSE: OII) to Conviction Buy with a price target of $66 (up from $57).

The firm cited great leverage to rising deepwater drilling and construction activity, as well as enhanced deepwater safety practices. Goldman also said the consensus EPS estimates for 2012 and 2013 are too low.

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 $52.74 yesterday, with a 52 week range of $31.77-$92.38.

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Goldman Sachs Conviction Buy List, Goldman Sachs

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