Huge backlog doesn't help if they give poor earnings or a bad outlook on future earnings. Don't fool yourself into wishing for it to go up. Right now is dangerous times to trade MDR or most stocks because the market is weighing on everything and stocks are easily sold off.
LOL! How do you come up with this number? Please give us your reasons other than wishful thoughts. I'm long MDR too, but it's silly to just pull a number out of your ass and say MDR should be at this price.
We'll see what the earnings have to say, hopefully they have strong earnings and more importantly a strong outlook for the future.