UBS Adjusts PT & Estimates on Willbros Group (WG); Company Continues to Turn Corner

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UBS maintains a 'Neutral' on Willbros Group (NYSE: WG) price target raised from $4.25 to $5.50.

Analyst, Steven Fisher, said, "WG Q1 continuing EPS of -$0.48 misses Street of -$0.21 due to taxes...Backlog increased 8% seq driven by Oil & Gas; debt reduction unchanged...Business continues to improve but some work being pushed to the right."

However, Fisher cuts FY12 EPS estimates from $0.35 to $0.05 and FY13 from $0.90 to $0.65.

For an analyst ratings summary and ratings history on Willbros Group click here. For more ratings news on Willbros Group click here.

Shares of Willbros Group closed at $4.98 yesterday, with a 52 week range of $3.13-$10.44.

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