UPDATE: Dahlman Rose Raises PT to $71 on Oceaneering International Following 2013 Guidance

Dahlman Rose maintained Oceaneering International (NYSE: OII) with a Buy rating and raised the price target from $62.00 to $71.00.

Dahlman Rose commented, "Following earnings that modestly exceeded our forecast, we are reiterating our 2013 EPS forecast of $3.30 per share (compared with company guidance of $3.00-$3.25) and establishing a 2014 EPS estimate of $3.95. We are increasing our price target to $71 per share from $62, which represents a target of 18x estimated 2014 earnings. We reiterate our longstanding Buy recommendation."

Oceaneering International closed at $63.54 on Friday.