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McDermott (MDR +3.3%) is started at Buy with a $16 target at Global Hunter, which views MDR as a...

McDermott (MDR +3.3%) is started at Buy with a $16 target at Global Hunter, which views MDR as a "pure play leverage to the burgeoning global offshore development cycle." The firm likes MDR's "building visibility in the form of bids outstanding, a robust backlog and sound underlying end-market dynamics related to robust oil prices and impressive offshore exploration successes."
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