Citi opens ‘positive catalyst watch’ on Oceaneering into earnings

Citi analyst Scott Gruber opened a “90-day positive catalyst watch” on shares of Oceaneering after boosting the firm’s price target to $31 from $27. The firm keeps a Buy rating on the shares. While a cash return program is more likely to be announced on the Q3 earnings call versus Q4, expectations toward a robust return program should rise post the Q3 report, the analyst tells investors in a research note.