McDermott (MDR -3.5%) is slammed on downgrades from Global Hunter and KeyBanc (I, II). MDR...

|About: McDermott International, Inc. (MDR)|By:, SA News Editor

McDermott (MDR -3.5%) is slammed on downgrades from Global Hunter and KeyBanc (I, II). MDR turned in a subpar Q4, but Hunter points to an elevated execution risk from the ongoing transition to deeper-water plays, which brings into question the ability to reliably convert backlog to earnings. KeyBanc sees costs rising more than expected and posing additional risk to achieving margin forecasts.