UBS Raises PT on Chicago Bridge & Iron (CBI) to $60

February 28, 2013 10:01 AM EST Send to a Friend
Get Alerts CBI Hot Sheet
Price: $49.22 -4.09%

Rating Summary:
    13 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 10
Trade CBI Now!
Join SI Premium – FREE
UBS raised its price target on Buy-rated Chicago Bridge & Iron (NYSE: CBI) from $59 to $60 following an "impressive" Q4.

Analyst Steven Fisher comments, "Q4 results were strong, led by impressive bookings and good margins. CBI reiterated its guided awards range, and noted that while it expects a major LNG project, the midpoint was reason able without a major LNG win (on 12/19 CBI was confident in the low end ex an LNG award). Small/mid-size awards were strong. The outlook for continued Offshore awards was positive. Still, while FCF was positive at $45m, it was only ~50% of net inc and CBI didn’t seem in a hurry to pay down debt, with repayments unlikely in 2013. Based on large project timing, the bookings outlook likely shifted from 1H to 2H."

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 $53.02 yesterday.


Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

UBS

Add Your Comment