Morgan Keegan Maintains Outperform Rating On McDermott

According to Morgan Keegan, McDermott International MDR Outperform rating is maintained. Morgan Keegan said that McDermott is performing well in a somewhat challenging environment. “The substantial and improving visibility for future project awards is a further plus. Our positive long-term outlook is unchanged. We are slightly raising our price target to $32.50 from a prior $31.50 driven by higher forecasted revenue. We maintain an Outperform rating on McDermott.” McDermott International closed yesterday at $22.07.