Opinions
Benj Gallander
McDermott International Inc.
MDR-N
COMMENT
Feb 03, 2015
$2.770
Stock price when the opinion was issued
oil
gas field services
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WATCH
Builds nuclear/coal fired power plants and oilrig platforms. Judge your entry point by overall market’s entry point. Had a very sharp selloff in January (selling climax). US market is currently giving a test of lows. Once this market reverses, like a high volume up day, that's the time to come in. 1st resistance will be the recent high of a few days ago. 2nd resistance will be at the January highs.
oil
gas field services
PAST TOP PICK
(A Top Pick Jan 14/09. Up 144%.) Oil/gas construction and power plants. Expecting about $2 a share in 2010 so it is still relatively cheap. Cdn investors should be careful as they announced they are splitting in 2 and spin-off the Babcock and Wilcox so you could be hit with unfavourable taxes.
oil
gas field services
DON'T BUY
Engineering off shore oil/gas projects globally. Over 90% of revenues from outside US. Had a bit of a rough 4th quarter but came back with an in line 1st quarter because they spun off the Babcox-Wilcox division. Negative tax implications for Canadian holders, so he exited. Trading at about 15-16 times earnings. Good back log, but less diversified than they were.
oil
gas field services
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Thinks there is room for it to recover, but he has to take a closer look at the financial statements, the earnings, the ratios, etc. It went back on his watch list about 4 months ago. They are a big company and have done well before, which indicates a possibility that they can do it again.