KeyBanc Downgrades McDermott (MDR) to Hold

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KeyBanc downgraded McDermott (NYSE: MDR) from Buy to Hold.

"While we continue to see a thematically strong end-market ahead for McDermott International, Inc., we gauge costs are increasing at a higher pace vs. our expectations and posing additional risk to the Company achieving forecasted margins, as it transitions its business model to deeper water plays," said analyst Tahira Afzal.

For an analyst ratings summary and ratings history on McDermott click here. For more ratings news on McDermott click here.

Shares of McDermott closed at $10.70 yesterday, with a 52 week range of $9.04-$15.35.

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