Deutsche Bank Starts McDermott (MDR) at Hold

Deutsche Bank initiates coverage on McDermott (NYSE: MDR) with a Hold. PT $12.00.

The analysts commented, "We see balanced risk reward as we believe the company's strong positioning in core shallow markets along with growth prospects in new markets is offset by weak execution capability over the medium term. The company has recently started to expand into higher margin/high growth subsea umbilical, risers, and flowlines (SURF) work. However, we expect the company's primary conventional shallow water market to decline as many of the larger fields have already been developed."

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 $11.03 yesterday.

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