Credit Suisse Downgrades Babcock & Wilcox Enterprises (BW) to Underperform

October 13, 2016 6:44 AM EDT
Get Alerts BW Hot Sheet
Price: $15.65 -0.06%

Rating Summary:
    4 Buy, 0 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 14 | Down: 11 | New: 8
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Credit Suisse downgraded Babcock & Wilcox Enterprises (NYSE: BW) from Neutral to Underperform with a price target of $16.00 (from $17.00).

Analyst Jamie Cook commented, "We reduce our rating to Underperform as we see less upside in B&W's stock price vs. the peer group. We tweak our FY'17/18 adjusted EPS estimates to $1.35 and $1.35, respectively, and introduce our FY'19 adjusted EPS estimate of $1.40. Finally, we reduce our target price to $16, which assumes 13.5x our FY'19 adjusted EPS estimate discounted back. In our opinion, B&W's peer group has more favorable longterm growth opportunities coupled with comparable benefits from cost cutting actions when end markets recover."

For an analyst ratings summary and ratings history on Babcock & Wilcox Enterprises click here. For more ratings news on Babcock & Wilcox Enterprises click here.

Shares of Babcock & Wilcox Enterprises closed at $16.28 yesterday.

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