Seeking Alpha

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

  • 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.
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