UBS Maintains a 'Buy' on McDermott (MDR); Still Expect Return to More Normalized EPS
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Price: $0.70 --0%
Rating Summary:
4 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
4 Buy, 15 Hold, 4 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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UBS maintains a 'Buy' on McDermott (NYSE: MDR) price target raised from $14 to $18.
UBS analyst says, "Q4 EPS of $0.04 vs. Street $0.19; larger than expected charges; light revenues...Q4 disappointed as charges were worse than expected, but Mideast profit was positive and prospects remain for better bookings in 2012 to set up better 2013 EPS. We think the MDR story hasn’t changed. We think the stock and the near term EPS outlook continue to reflect conditions that are below normalized levels. MDR still needs to book work for ‘13, but we think the opportunities exist. Assuming MDR can book more work and achieve more normalized margins in 2013, we think the stock is attractively valued."
UBS lowers FY12 EPS estimate from $0.95 to $0.87 and FY13 from $1.35 to $1.30.
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 $14.86 yesterday.
UBS analyst says, "Q4 EPS of $0.04 vs. Street $0.19; larger than expected charges; light revenues...Q4 disappointed as charges were worse than expected, but Mideast profit was positive and prospects remain for better bookings in 2012 to set up better 2013 EPS. We think the MDR story hasn’t changed. We think the stock and the near term EPS outlook continue to reflect conditions that are below normalized levels. MDR still needs to book work for ‘13, but we think the opportunities exist. Assuming MDR can book more work and achieve more normalized margins in 2013, we think the stock is attractively valued."
UBS lowers FY12 EPS estimate from $0.95 to $0.87 and FY13 from $1.35 to $1.30.
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 $14.86 yesterday.
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