Deutsche Bank Upgrades KBR, Inc. (KBR) to Buy

Deutsche Bank upgraded KBR, Inc. (NYSE: KBR) from Hold to Buy with a price target of $16.00 (from $14.00). Analyst Chad Dillard sees its sell-off as "overdone."

"Last week, we published a detailed note (for a copy click here) highlighting KBR’s longer-term EPS potential but thought a better entry point was ahead. That day has arrived. We are upgrading KBR to a BUY and are raising our 12M price target to $16 (~20% upside) with a view that the stock could reach $2025 (45-80% upside) over the longer term (>12M). Today’s 10% sell-off (driven by a 2016 guide cut) is overdone, backward-looking and suggests the market under-appreciates KBR’s transformation to a lower-risk gov’t/technical services firm," said the analyst.

For an analyst ratings summary and ratings history on KBR, Inc. click here. For more ratings news on KBR, Inc. click here.

Shares of KBR, Inc. closed at $13.63 yesterday.

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