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McDermott International (NYSE:MDR) target price raised to $9.00, reported today by Scotiabank

McDermott International (NYSE:MDR) had its price target upped to $9.00 by Scotiabank in an issued report announced Thursday May 25, 2017. The bumped up target suggests a potential upside of 0.38% from the company's last stock close price.

Yesterday McDermott International (NYSE:MDR) traded 0.58% higher at $6.52. The company’s 50-day moving average is $6.79 and its 200-day moving average is $6.65. The last stock close price is down 4.72% from the 200-day moving average, compared to the S&P 500 which has increased 0.02% over the same time. 2,344,199 shares of the stock were exchanged, down from an average trading volume of 2,593,500

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McDermott International (NYSE:MDR)

McDermott International has a 52 week low of $4.96 and a 52 week high of $8.33 with a P/E ratio of 26.77 The company’s market cap is currently $0.

In addition to Scotiabank reporting its target price, a total of 12 firms have reported on the stock. The consensus target price is $5.30 with 0 firms rating the stock a strong buy, 3 firms rating the stock a buy, 10 firms rating the stock a hold, 1 firm rating the stock a underperform, and finally 0 firms rating the stock a sell.

About McDermott International (NYSE:MDR)

McDermott International, Inc. is a provider of integrated engineering, procurement, construction and installation (EPCI), front-end engineering and design (FEED) and module fabrication services for upstream field developments across the world. The Company delivers fixed and floating production facilities, pipeline installations and subsea systems from concept to commissioning for offshore and subsea oil and gas projects. It operates through three segments: the Americas, Europe and Africa (AEA), the Middle East (MEA) and Asia (ASA). As of December 31, 2016, operated in approximately 20 countries across the Americas, Europe, Africa, the Middle East, Asia and Australia, its integrated resources include a diversified fleet of marine vessels, fabrication facilities and engineering offices. It support its activities with project management and procurement services, while utilizing its fully integrated capabilities in both shallow water and deepwater construction.

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