The stock of Cameron International (CAM), first discussed here on April 24, 2009 at a price of $25.59, remains on the move: the stock has risen from about $42 to test $60 today, and I obviously still like the share at this stage.

Oil/natural gas servicer Cameron is benefiting from the Obama's administration revised blowout preventer safety rules, as oil companies conform to the new standards. Cameron's orders increased 30% in the third quarter of 2010, compared to 2009.

Further, new technology that's likely to increase natural gas drilling and production (via a new technique called hydraulic fracturing) in North America also holds the promise of increased valve business for CAM. And Cameron's recent purchase of Natco Group, an energy capital equipment company, will increase international business.

Analyst Upgrades

• Abercrombie & Fitch (ANF) to outperform from market perform at Wells Fargo.
• Trinity Industries (TRN) to buy from hold at BB&T.
• Cameron (CAM) to outperform from sector perform at RBC Capital.
• Expedia (EXPE) to positive from neutral at Susquehanna.
• Micron (MU) to buy from hold at Lazard Capital.

Analyst Upgrades

• Xilinx (XLNX) to buy from hold at Auriga.
• Orion Energy (OESX) to buy from neutral at Roth Capital.
• Goodyear Tire (GT) to buy from fair value at CRT Capital.
• RadioShack (RSH) to neutral from underperform at Wedbush.
• Novo Nordisk (NVO) to buy from neutral at Goldman.

Cameron International's (CAM) shares, first discussed here on April 24, 2009 at a price of $25.59, are on the move again.

Oil/natural gas servicer Cameron should benefit from the Obama's administration likely, revised blowout preventer safety rules, as oil companies conform to the new standards.

Further, new technology that's likely to increase natural gas drilling and production (via a technology called hydraulic fracturing) in North America also holds out the promise of increased valve business for CAM. And Cameron's purchase of Natco Group, an energy capital equipment company, will increase international business.

"The disaster in the Gulf of Mexico is likely to have positive ramifications for Cameron International (CAM)," says energy sector specialist Elliott Gue.

The editor of The Energy Strategist explains, "The political fallout could usher in stringent regulations governing blowout preventers (BOP), subsea equipment and redundant safety systems on rigs.

"Such an outcome would be consistent with past experience in the energy industry. After the Exxon Valdez spill, the government pushed oil companies to use double-hull tankers and phase out single hulls.

Analyst Upgrades

• Goldman upgraded Jones Lang LaSalle (JLL) to buy from neutral.
• Credit Suisse upgraded Pulte Group (PHM) to neutral from underperform. Note that Citigroup downgraded the stock.
• Ameristar Casinos (ASCA) was upgraded to neutral from sell at Merriman.
• Citigroup upgraded Kimco Realty (KIM) to hold from sell.
• Mistras (MG) was upgraded to buy from hold at KeyBanc.
• Devon Energy (DVN) was upgraded to outperform from neutral at Macquarie.
• Garmin (GRMN) was upgraded to outperform from sector perform at PacCrest.

I wrote about considering taking some profits off the table with Cameron International (CAM) here on April 24, 2009, when the stock was at a price of $25.59. It proved to be a prudent warning, as CAM soon dropped from highs near $48 to about $31 in June, largely due to jitters about the deepwater offshore oil drilling sector.

However, Cameron has since popped back above the key, 50-day moving average, and I obviously still like the shares here.

Cameron should benefit from the Obama administration's likely, revised blowout preventer safety rules, as oil companies conform to the new standards.

Oil is no longer flowing from the Deep Horizon well into the Gulf of Mexico, and investors are starting to take another look at the oil industry.

One oil stock that is standing out right now is Cameron International (CAM), which provides drilling systems and equipment -- like the now infamous blowout preventers.

Goldman Sachs just upgraded Cameron to a Buy rating and added the stock to its Conviction Buy List saying, "we expect Cameron to be one of the key beneficiaries of any renewed focus on oil services."

Implied volatility increases on May 26: Amgen (AMGN), Sandridge Energy (SD) and Sirius Satellite (SIRI) according to IVolatility.

Cameron (CAM) provided blowout preventer for the Gulf of Mexico rig that caused the oil spill. Crude oil futures are recently up 2.28% to $73.14 according to Bloomberg. CAM June put option implied volatility is at 74, August and November is at 64; above its 26-week average of 45 according to Track Data, suggesting larger price movement.

Update is by Stock Specialist Paul Foster of theflyonthewall.com

Analyst Upgrades

• Argus upgraded Weyerhaeuser (WY) to buy from hold, citing the better-than-expected Q1 report and expectations that the company is about to be profitable. The firm has a $59 target on the stock.
• Weeden upgraded Cameron (CAM) to buy from hold as it views the recent sell-off as overdone.
• Oppenheimer upgraded Mobile Mini (MINI) to outperform from perform based on valuation and what the firm sees as the company's attractive risk/reward ratio. The firm set a $25 target.
• Johnson Controls (JCI) was upgraded to buy from hold at Deutsche Bank.
• EnerNOC (ENOC) was upgraded to buy from neutral at Janney Montgomery.
• Checkpoint (CKP) was upgraded to outperform from neutral at Baird.

Cameron International (CAM), which I first wrote about on April 24, 2009 at a price of $25.59, is up more than 80%, hence I think it's perfectly acceptable to take some profits off the table at this juncture.

Meanwhile, those investors who can tolerate the risk could retain those shares and go for an even bigger gain.

Look for Cameron to continue to benefit from longer-term demand for oil field capital equipment and deep-water support equipment on ramping oil demand in the immediate years ahead. Further, new technology that's likely to increase natural gas drilling and production (via a technology called hydraulic fracturing) in North America also holds out the promise of increased valve business for CAM. And Cameron's recent purchase of Natco Group, an energy capital equipment company, will increase international business.

Analyst Upgrades

• Baird upgraded Dell (DELL) to outperform from neutral, citing valuation and improving IT hardware trends. The firm raised its target to $21 from $17.
• Janney Montgomery upgraded Regal Entertainment (RGC) to buy from neutral, citing box office momentum and improving potential for a dividend increase. The firm raised its target for shares to $20.50 from $16.
• Thomas Weisel upgraded CF Industries (CF) to overweight from market weight as it sees reduced financing risk following the equity offering and valuation.
• GameStop (GME) was upgraded to buy from hold at BB&T.
• Exxon Mobil (XOM) was upgraded to outperform from market perform at Raymond James.
• Cameron (CAM) was raised to outperform from market perform at BMO Capital.

Analyst Upgrades

• JPMorgan upgraded Deere (DE) to overweight from neutral and raised its target on shares to $65 from $52. JPMorgan believes the company's fundamentals are improving and sees signs of a recovery in forestry, turf and earth-moving equipment.
• Piper Jaffray upgraded Valmont (VMI) to neutral from underweight on valuation following the company's Q4 results. The firm lowered its target price on shares to $70 from $74.
• Soleil upgraded Group 1 Automotive (GPI) to buy from hold on valuation with a $36 price target. The firm believes negative news flow for Toyota has created an opportunity to accumulate shares.
• Bernstein upgraded Deutsche Telekom (DT) to outperform from market perform.
• Nucor (NUE) was upgraded to neutral from underperform at BofA/Merrill.
• American Eagle (AEO) was upgraded to outperform from market perform at Wells Fargo.

Analyst Upgrades

• Oppenheimer upgraded Abercrombie & Fitch (ANF) to outperform from perform as it finds the risk/reward on shares attractive and believes the company's Q4 results and easing comparisons could serve as positive catalysts. The firm set a $46 price target on shares.
• Bernstein upgraded 3M Company (MMM) to outperform from market perform based on expectations the company will continue to beat and raise guidance and that the organic growth rate will continue to improve. The firm raised its target to $99 from $90.
• Roth Capital expects Nvidia (NVDA) to benefit from its new GPU platform Fermi in Q1, resulting in a PC business recovery. Additionally, the firm, which upgraded shares to buy from hold and has a $21 target, expects Nvidia to offset Intel (INTC) declines by selling low-end GPUs compatible with Intel's Pinetrail and Westmere platforms.
• Syngenta (SYT) was upgraded to buy from hold at Collins Stewart.
• Cameron (CAM) was raised to overweight from neutral at HSBC.
• Sigma-Aldrich (SIAL) was lifted to outperform from neutral at Baird.

Investors have one-last chance to scoop-up shares of Cameron International Corp. (CAM), due to a pull-back, and it goes without saying that I'm reiterating my buy rating for the company's shares, first recommended on April 24, 2009, at a price of $25.59. If you bought Cameron in April 2009, you're up about 50%.

Look for Cameron to continue to benefit longer-term from demand for oilfield capital equipment and deepwater support equipment, on likely, ramping oil demand in immediate years ahead. Further, new technology that's likely to increase natural gas drilling and production (via a technology called hydraulic fracturing) in North America also holds out the promise of increased valve business for CAM.