Barclays Starts Oceaneering Intl (OII) at Equalweight

Barclays initiates coverage on Oceaneering Intl (NYSE: OII) with a Equalweight rating and a price target of $28.00.

Analyst David Anderson likes the stock but believes the sector environment needs to see improvement. The analyst notes the offshore market's macro view "has been awful for years" and believes OII belongs on investors' short lists when the offshore recovery comes into view. Anderson likes the standardization, design simplifications, and more phase-in developments but fears the company could be vulnerable to market share losses from intense competition as larger players have consolidated.

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 $25.47 yesterday.

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