Global Hunter Securities Maintains Oceaneering International Neutral, Raises PT To $90 (OII)

Global Hunter Securities maintained its Oceaneering International OII Neutral rating and raised Oceaneering International's price target from $81 to $90 in a research report published today. In the report, Global Hunter Securities states, "OII's Q1 beat was a function of a lower tax rate and less SG&A and D&A. The company increased its 2011 EPS guidance to $3.65-$3.90, up from $3.45-$3.75, to account for a lower recurring tax rate and a revised outlook for its Subsea Products (more positive) and Subsea Projects (less optimistic) businesses." Shares of Oceaneering International were trading at $87.42 at the time of posting, up 0.98% from Thursday's market close.