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Gold/Mining/Energy : MDR: McDermott International

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From: Axxel10/8/2004 10:10:09 AM
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Analyst Initiation of Coverage-MCDERMOTT INTERNATIONAL INC [MDR-12.96]
October 8, 2004: Axxel Knutson, President & Chief Investment Officer [CIO] of TradingWeapon.com in Warren, New Jersey, an OSJ* office of Cantella & Co., Inc., Member NASD/SIPC today initiated a “ strong buy” recommendation of MCDERMOTT INTERNATIONAL INC According to Knutson, “ Given the difficult market for the oil and gas equipment business and to now see a measurable improvement in free cash flow we believe that the company has demonstrated an ability to improve in such an environment. We think that this core business of MDR is now expansionary and resultantly, we suggest that the company warrants a “strong buy” recommendation. TradingWeapon.com is located at 197 Mountainview Road, Warren, New Jersey 07059 TEL: 908-647-5750. The recommendation may list the NASD broker/dealer as Cantella & Co., Inc. Axxel Knutson's family accounts currently holds a long position in this issue. Cantella does not do any corporate finance work for this company. . Analyst Initiation of Coverage- MCDERMOTT INTERNATIONAL INC [MDR-12.96]
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