Oceaneering price target raised to $23 from $21 at Piper Sandler

Piper Sandler raised the firm’s price target on Oceaneering to $23 from $21 and keeps a Neutral rating on the shares. While the international/offshore cycle is still very healthy, the firm believes expectations should orient around a 10%-15% CAGR over the next few years vs some market expectations that believed this could be 15%-20%.