Barclays Maintains an 'Overweight' on Cameron Int' (CAM); Secular Trends Remain Intact

Barclays maintains an 'Overweight' on Cameron International (NYSE: CAM) price target of $67.00.

Barclays analyst says, "Cameron is levered to several key secular trends which are likely to drive growth in the years to come, including the ongoing new offshore rig construction cycle, the emerging cycle of retrofitting offshore BOP equipment, and accelerating demand for subsea equipment globally. An emerging FPSO upcycle offers further potential upside. Given the company's high quality products and strong historical market share in these businesses, we expect CAM to continue to experience robust growth in orders in 2012 and beyond."

"We are lowering our 4Q estimate to $0.76 (from $0.85) and our 2012 estimate to $3.65 (from $3.70). We are raising our 2013 estimate to $4.60 (from $4.35), reflecting the higher level orders expected in 2012."

For more ratings news on Cameron International click here and for the rating history of Cameron International click here.

Shares of Cameron International closed at $52.07 yesterday.

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