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Why Oceaneering International Stock Is Soaring Today

TheMotleyFool

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Why Oceaneering International Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Private equity firm, sunset photo at golden hour, photo by Thomas Heaton: https://img.theapi.app/temp/6a5872d8-cc25-46f8-b436-bf3db1953908.png

Shares of Oceaneering International (NYSE: OII) rallied more than 16% by 11:30 a.m. EDT on Wednesday. The oil stock's move higher came in the wake of an analyst upgrade.

Bank of America analyst Mike Sabella upgraded Oceaneering stock from neutral to buy. He also boosted the bank's price target from $12.50 a share to $15 (implying 9% upside even after today's jump).

Image source: Getty Images.

Source Fool.com

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