Oceaneering price target raised to $27 from $23 at Citi

Citi analyst Scott Gruber raised the firm’s price target on Oceaneering to $27 from $23 and keeps a Buy rating on the shares. The company “disappointing” Q2 results with EBITDA below guidance while product orders were weak, the analyst tells investors in a research note. However, the company’s cash flow growth prospects “remain bright,” says the firm.