Bright Prospects For McDermott (MDR)

Pritchard Capital partners reports that McDermott International (NYSE: MDR) is well positioned for the coming year, given that it has exposure to government spending and offshore upstream oil and gas development.

McDermott’s reported EPS of $0.42 is well above the consensus of $0.39. The company’s prospects in the commercial nuclear power market are also bright.
The spin off of Babcock & Wilcox is proceeding as scheduled, and the zero margin projects in Qatar are also on track. The stock is rated Buy, and the price target is $28.50. McDermott’s shares currently trade at nearly $24.