Broadpoint.Amtech Downgrades KBR, Inc. (KBR) to Neutral
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Broadpoint.Amtech downgrades KBR, Inc. (NYSE: KBR) to Neutral.
Broadpoint analyst says, "We are lowering our rating on KBR to Neutral as the award opportunities we anticipated when we upgraded the stock in May have been awarded and our award tracker suggests sluggish awards prospects for KBR until mid-2010. We believe KBR shares provide attractive valuation for investors looking 6 months + out, but absent any near-term award catalysts, we prefer other Buy rates names...In the near-term, we believe investors have better opportunities to make money in Foster Wheeler (Nasdaq: FWLT) and McDermott (NYSE: MDR) where our comfort around awards in the coming two quarters is higher, valuation remains attractive, and company specific strategies and events could provide very visible catalysts...Given our strong industry cycle view, we believe Foster Wheeler, McDermott, Fluor (NYSE: FLR), KBR and WorleyParsons offer considerable long-term upside from low-teens P/Es. We believe the market is not yet valuing the potential for2010 awards and positive 2011 EPS estimate revisions."
To see more analyst ratings on KBR Click Here.
KBR, Inc. operates as an engineering, construction, and services company supporting the energy, petrochemicals, government services, and industrial and civil infrastructure sectors worldwide.
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