Cameron International (CAM) PT Raised at Jefferies Posts Q1

Jefferies analyst Brad Handler adjusted estimates and raised its price target on Cameron International (NYSE: CAM) from $72 to $75 following Q1 results.

Handler comments, "A quarter that feels very much in control affirms our view that 2013’s problems were manageable. We tweak up our estimates again on lower share count (which more than offsets some conservatism we add for margin expansion in ’15). We nudge up our PT to $75 from $72, but it is becoming clearer to us that 2015 can prove a year of realizing franchise value (e.g., in OneSubsea, Engineered Valves or other), which is not reflected in our estimates/PT."

The firm trimmed Q2 EPS from $0.88 to $0.87, raised FY 2014 EPS from $3.85 to $3.95 and FY 2015 from $4.95 to $5.00.

For an analyst ratings summary and ratings history on Cameron International click here. For more ratings news on Cameron International click here.

Shares of Cameron International closed at $64.90 yesterday.

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