McDermott International (NYSE:MDR)’s Price Target Increased

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Dallas, Texas 02/12/2014 (FINANCIALSTRENDS) – Deutsche Bank’s Equities researchers UPPED their price target on McDermott International (NYSE:MDR) shares from $8.00 to $10.00 in the research report that was issued on Friday. Deutsche Bank’s PT would indicate a potential-upside of 10.38% from the previous close of the stock. Numerous other research-analysts have also weighed on the McDermott International (NYSE:MDR) stock recently. Analysts at Zacks have reiterated their “neutral” rating on McDermott International (NYSE:MDR) shares in the research note to investors on Monday, 30 December and they currently have a Price target of $9.25 on the stock.

Separately, Stephens’ analysts initiated coverage on McDermott International (NYSE:MDR) shares in the research note to investors on Thursday, 19 December and they have assigned an “overweight” rating on the company’s stock. Finally, TheStreet analyst downgraded shares of McDermott International (NYSE:MDR) from a “hold” to a “sell” rating the research note to investors on 7 November. Two equities research-analysts have assigned a “sell “rating on the McDermott International (NYSE:MDR) stock, 10 have assigned a “hold” rating and 4 have assigned a “buy” rating to the company. Currently, the average rating on McDermott International (NYSE:MDR) is a “Hold” and the average price target is $10.27.

McDermott International (NYSE:MDR) last announced the company’s earnings results on Tuesday, 5 November. It company reported earnings per share of $0.27 for the quarter, which missed the average analysts’ earnings per share estimate of $0.03 by $0.24. McDermott International (NYSE:MDR) had revenue of $686.86, for the quarter, in comparison to the average analyst estimate of $743.13M. In the same quarter in the previous year, McDermott International (NYSE:MDR) posted earnings per share of $0.21. Its quarterly revenue dropped 33.2% on a y-o-y basis. On an average, analysts project that McDermott International (NYSE:MDR) will post earnings per share of $-0.67 for the current financial year.

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