Jefferies Has Buy On Cameron International Corporation (CAM)

Jefferies & Co. has a Buy rating and a $57 price target on shares of Cameron International Corporation CAM. In a note to clients, Jefferies writes, "Sentiment seems to be that CAM's 2011 guidance will be lackluster in relation to expectations. While guidance is hard to pinpoint, we have already modeled a drop in subsea revenue in 2011 (down about 10% YoY) but we do expect subsea order flow to gain momentum. We would be aggressive buyers of the shares on any weakness." Shares of CAM lost $1.49 yesterday to close at $50.26, a loss of 2.9%.