By Houston Business Journal

Shares of marine contracting company Cal Dive International Inc. fell in mid-day trading Wednesday after investment banking group Jefferies & Company Inc. lowered the companyâ¿¿s price target to $10 per share from $12 per share.

Shares of Houston-based Cal Dive (NYSE: DVR) slid six percent to $6.06 per share from its opening price of $6.30 per share.

⿿DVR shares offer a compelling value for small-cap, value-oriented investors, but catalysts are limited,⿝ the report said. ⿿While (second quarter) results will likely remain weak, (second half) earnings should rise on some oil-spill cleanup activities in the Gulf of Mexico as well as repair and decommissioning activities.⿝

The company maintained the stock⿿s rating as a ⿿buy.⿝

Copyright 2010 American City Business Journals
Copyright 2010