Citi analyst Scott Gruber downgraded Oceaneering (OII) to Neutral from Buy with an unchanged price target of $30. Oceaneering outperformed the group last year and has already communicated a solid EBITDA forecast for 2025, the analyst tells investors in a research note. However, Citi trimmed EBITDA estimate slightly and foresees slower growth from here resulting in limited upside for the shares.
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