Jefferies Assumes Coverage on Oceaneering Intl (OII) at Hold; Most Leverage to Deepwater
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Price: $54.11 +3.66%
Rating Summary:
13 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
13 Buy, 17 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Jefferies assumes coverage on Oceaneering Intl (NYSE: OII) with a Hold. PT $57.00.
"OII is the most highly exposed company under coverage to deepwater services (74% of 2012E revenue), is transparent and consistent in its guidance (and thus comforting for investors) and has become nicely more aggressive pursuing growth opportunities over the last 12 months, in our view. In addition, thermoplastic umbilical demand has risen and the product line is less of a drag on results. Finally, we can envision OII as an M&A target, which should attract interest in the name. Our reservation with this stock is simply valuation/limited upside to our PT."
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 $55.55 yesterday.
"OII is the most highly exposed company under coverage to deepwater services (74% of 2012E revenue), is transparent and consistent in its guidance (and thus comforting for investors) and has become nicely more aggressive pursuing growth opportunities over the last 12 months, in our view. In addition, thermoplastic umbilical demand has risen and the product line is less of a drag on results. Finally, we can envision OII as an M&A target, which should attract interest in the name. Our reservation with this stock is simply valuation/limited upside to our PT."
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 $55.55 yesterday.
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