Barclays Downgrades Oceaneering International to Underweight, Lowers Price Target to $21
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst David Anderson downgraded Oceaneering International (OII) from Equal-Weight to Underweight and reduced the price target from $22 to $21.

May 14, 2024 | 12:46 pm
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NEGATIVE IMPACT
Barclays downgraded Oceaneering International to Underweight and lowered its price target to $21, indicating a bearish outlook.
The downgrade by a major financial institution like Barclays, especially from Equal-Weight to Underweight, suggests a negative outlook on the company's stock performance. Lowering the price target further emphasizes the expectation of a decrease in stock value, likely influencing investor sentiment and potentially leading to a short-term decrease in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100