McDermott downgraded to Neutral from Buy at Global Hunter Global Hunter downgraded McDermott based on increased risk from its ongoing transition, lower margins, and growing backlog in a loss position. Price target lowered to $11 from $14.
McDermott and GE launch io oil & gas consulting McDermott (MDR) and GE Oil & Gas (GE) launched io oil & gas consulting, a new independent venture to transform front-end offshore field development. io will consider the full field as one system and have the technical insight to develop every aspect of the front-end solution. McDermott’s investment in io aligns with the company’s strategy to become more client-focused and responsive to operators’ challenges.