UBS Downgrades Jacobs Engineering (JEC) to Neutral

August 10, 2016 9:10 AM EDT
Get Alerts JEC Hot Sheet
Price: $51.07 +1.27%

Rating Summary:
    15 Buy, 13 Hold, 2 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 17 | Down: 26 | New: 7
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UBS downgraded Jacobs Engineering (NYSE: JEC) from Buy to Neutral with a price target of $56.00 (from $53.00).

Analyst Steven Fisher commented, "We believe Jacobs' management team is executing its business improvement program very well, as evidenced by margin improvement in a weak revenue environment. However, we are downgrading our rating on Jacobs to Neutral, from Buy, to reflect valuation, organic growth restrained by lack of customer confidence, and near-term uncertainty on an arbitration case."

For an analyst ratings summary and ratings history on Jacobs Engineering click here. For more ratings news on Jacobs Engineering click here.

Shares of Jacobs Engineering closed at $55.57 yesterday.

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