Jefferies Raises Oceaneering PT to $90, Maintains Hold (OII)

Jefferies raised its Oceaneering International OII price target from $65 to $90 and maintained Oceaneering's Hold rating in a research report published today. In the report, Jefferies states, "OII's product and service mix, led by its dominant ROV operations and its subsea products division, position OII very well to post rising earnings in 2011-12. However, the shares appear fairly valued and we are maintaining our Hold rating." Shares of Oceaneering International closed last Friday at $81.93, reflecting no change from last Thursday's market close.