UBS Maintains a 'Buy' on Chicago Bridge & Iron (CBI); Execution Solid, But Pressures Remain
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Price: $61.76 +3.66%
Rating Summary:
11 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
11 Buy, 2 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade CBI Now!
UBS maintains a 'Buy' on Chicago Bridge & Iron (NYSE: CBI) price target lowered from $52 to $51.
Analyst, Steven Fisher, said, "Q1 EPS missed consensus, hurt by lower than expected Steel Plate revenue (slower Gorgon ramp up) and Lummus Tech income (back-end loaded) plus higher SG&A (stock comp expense). Still, margins in both Steel Plate and Project E&C were better than expected. Revs of $1.20b were below the Street of $1.27 bln, but are expected to ramp going forward."
"While CB&I missed consensus, the quarter was uneventful, execution remains solid, and the breadth of CBI’s opportunity set in LNG, chemicals, upstream and refining, continues to become clearer." (UBS cuts FY12/13 EPS estimate by $0.05 each to $3.00/$3.40, respectively)
For an analyst ratings summary and ratings history on Chicago Bridge & Iron click here. For more ratings news on Chicago Bridge & Iron click here.
Shares of Chicago Bridge & Iron closed at $43.64 yesterday, with a 52 week range of $23.88-$47.74.
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Analyst, Steven Fisher, said, "Q1 EPS missed consensus, hurt by lower than expected Steel Plate revenue (slower Gorgon ramp up) and Lummus Tech income (back-end loaded) plus higher SG&A (stock comp expense). Still, margins in both Steel Plate and Project E&C were better than expected. Revs of $1.20b were below the Street of $1.27 bln, but are expected to ramp going forward."
"While CB&I missed consensus, the quarter was uneventful, execution remains solid, and the breadth of CBI’s opportunity set in LNG, chemicals, upstream and refining, continues to become clearer." (UBS cuts FY12/13 EPS estimate by $0.05 each to $3.00/$3.40, respectively)
For an analyst ratings summary and ratings history on Chicago Bridge & Iron click here. For more ratings news on Chicago Bridge & Iron click here.
Shares of Chicago Bridge & Iron closed at $43.64 yesterday, with a 52 week range of $23.88-$47.74.
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