Goldman Sachs Removes Chicago Bridge & Iron (CBI) from Coviction Buy List

Goldman Sachs removed Chicago Bridge & Iron (NYSE: CBI) from its Conviction Buy List citing its strong relative outperformance. The firm is maintaining a Buy rating on the stock.

The firm said the stock is close to a peak relative valuation versus peers and in some cases is trading at a significant premium versus a discount historically.

With 2012/2013 estimates near or above the consensus, they do not expect any upward revisions and believe it will be difficult for the stock to materially outperform near term until multiples converge.

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 $40.57 yesterday.

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