Cameron's big drop opens buying opportunity, Deutsche Bank says

|About: Cameron International Corpo... (CAM)|By:, SA News Editor

Deutsche Bank (CAM -1.1%) sees Cameron's 14% plunge yesterday after disappointing Q3 results as a buying opportunity, adding shares to its Short-Term Buy List and raising its price target to $73 from $66 (

While the magnitude of the deterioration in the outlook is disappointing and execution on the large backlog will be a show-me story for a while, the firm says CAM's growth outlook remains strong with backlog at record levels.

With strong leverage to deepwater and subsea plays, DB says CAM still enjoys one of the best secular growth stories in the industry.

UBS disagrees, cutting CAM to Neutral from Buy, citing too much near-term uncertainty.