UBS Maintains a 'Buy' on McDermott (MDR); Strong Margins and Bookings
Tweet
Share
E-mailGet Alerts MDR Hot Sheet
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
Join SI Premium – FREE
UBS maintains a 'Buy' on McDermott (NYSE: MDR) price target lowered from $18 to $16.
Analyst, Steven Fisher, said, "Q1 EPS of $0.25 beats Street $0.15 helped by strong margins and f/x...Strong bookings driven by Ichthys and other projects; deferred profit up...We see a chance for MDR to beat 2012 expectations, and prospects for 2013 look a little better, as smaller project work continues to accelerate. However MDR still needs to win more work to beat expectations for 2012 and hit 2013. The next catalyst could be a decision on Block B. Assuming MDR can book more work and achieve more normalized margins in 2013, we think the stock is still attractively valued, and we maintain our ratnig."
UBS raises FY12 EPS estimate from $0.87 to $0.95, but lowers FY13 from $1.30 to $1.20.
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 $11.37 yesterday.
Analyst, Steven Fisher, said, "Q1 EPS of $0.25 beats Street $0.15 helped by strong margins and f/x...Strong bookings driven by Ichthys and other projects; deferred profit up...We see a chance for MDR to beat 2012 expectations, and prospects for 2013 look a little better, as smaller project work continues to accelerate. However MDR still needs to win more work to beat expectations for 2012 and hit 2013. The next catalyst could be a decision on Block B. Assuming MDR can book more work and achieve more normalized margins in 2013, we think the stock is still attractively valued, and we maintain our ratnig."
UBS raises FY12 EPS estimate from $0.87 to $0.95, but lowers FY13 from $1.30 to $1.20.
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 $11.37 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Investec Double Upgrades Alkem Laboratories Ltd (ALKEM:IN) to Buy
- RWE (RWE:GR) (RWNFF) PT Raised to EUR66 at RBC Capital
- Jefferies Starts Freenome Inc. (FRNM) at Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT ChangeRelated Entities
UBSSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
