Barclays U.S. Engineering & Construction: Thoughts from the Barclays Capital Energy Conference - Day 2
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Price: $0.70 --0%
Rating Summary:
4 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays U.S. Engineering & Construction: Thoughts from the Barclays Capital Energy Conference - Day 2
Barclays analyst, Andy Kaplowitz, says, "McDermott's (NYSE: MDR) relatively upbeat tone at Day 2 of the conference seems to support its still gradually improving longer term outlook, and helps reconcile some of the differing views of the global offshore related end markets we heard during Day 1 of the conference from E&C customers and international competitors...We think MDR's prospects remain strong, and as we've said before we still believe MDR is well positioned to win some potentially large oil and gas projects in late 2011 or early 2012. Despite the continued macro level uncertainty that we think has weighed on the stock in recent weeks, there doesn't seem to be evidence to suggest that MDR's larger prospects have slipped to the right any more than what is usual with large lumpy projects..."
"Several large LNG projects continue to move closer to final investment decisions. We couldn't help but again note the bullish tone around global LNG markets, which should benefit Chicago Bridge & Iron (NYSE: CBI), KBR (NYSE: KBR), MDR, Fluor (NYSE: FLR), and Foster Wheeler (Nasdaq: FWLT). We heard from Apache regarding its largest LNG prospects, including Canada's Kitimat LNG project which could reach a final investment decision as early as 1Q12, and its Wheatstone LNG project which could move to FID as early as 3Q this year."
Barclays analyst, Andy Kaplowitz, says, "McDermott's (NYSE: MDR) relatively upbeat tone at Day 2 of the conference seems to support its still gradually improving longer term outlook, and helps reconcile some of the differing views of the global offshore related end markets we heard during Day 1 of the conference from E&C customers and international competitors...We think MDR's prospects remain strong, and as we've said before we still believe MDR is well positioned to win some potentially large oil and gas projects in late 2011 or early 2012. Despite the continued macro level uncertainty that we think has weighed on the stock in recent weeks, there doesn't seem to be evidence to suggest that MDR's larger prospects have slipped to the right any more than what is usual with large lumpy projects..."
"Several large LNG projects continue to move closer to final investment decisions. We couldn't help but again note the bullish tone around global LNG markets, which should benefit Chicago Bridge & Iron (NYSE: CBI), KBR (NYSE: KBR), MDR, Fluor (NYSE: FLR), and Foster Wheeler (Nasdaq: FWLT). We heard from Apache regarding its largest LNG prospects, including Canada's Kitimat LNG project which could reach a final investment decision as early as 1Q12, and its Wheatstone LNG project which could move to FID as early as 3Q this year."
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