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%.
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