Deutsche Bank Upgrades KBR, Inc. (KBR) to Buy
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Deutsche Bank upgraded KBR, Inc. (NYSE: KBR) from Hold to Buy with a price target of $16.00 (from $14.00). Analyst Chad Dillard sees its sell-off as "overdone."
"Last week, we published a detailed note (for a copy click here) highlighting KBR’s longer-term EPS potential but thought a better entry point was ahead. That day has arrived. We are upgrading KBR to a BUY and are raising our 12M price target to $16 (~20% upside) with a view that the stock could reach $2025 (45-80% upside) over the longer term (>12M). Today’s 10% sell-off (driven by a 2016 guide cut) is overdone, backward-looking and suggests the market under-appreciates KBR’s transformation to a lower-risk gov’t/technical services firm," said the analyst.
Shares of KBR, Inc. closed at $13.63 yesterday.
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