Seeking Alpha

Oceaneering upgraded at Howard Weil, shares rise

  • Oceaneering (OII +1.2%) is upgraded to Sector Outperform from Sector Perform with a $105 price target, up from $85, at Howard Weil following Q3 results.
  • The firm believes OII is among the best run oilfield service companies, confirmed by the latest earnings beat and guidance from the conference call, which prompts a rise in its forward earnings and more comfort with visibility towards longer-term growth.
  • OII is as well positioned to take advantage of the ongoing deepwater and subsea development trends as any oilfield service company, the firm says.
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