Goldman Sachs Removed KBR (KBR) from Conviction Buy List

Goldman Sachs removed KBR, Inc. (NYSE: KBR) from its Conviction Buy List and cut its price target price target to $37.00 from $47.00. However, the firm maintained a Buy rating.

The firm said the 2012/2013 consensus estimates are too high. Accordingly, the firm lowed 2Q12/2013/2014 EPS to $0.50/$2.70/$3.30 from $0.55/$3.10/$3.55 to reflect a slower revenue ramp than previously expected as certain projects moved out. They are now -6%/-13%/ -7% below the Street for 2012/2013/2014 EPS

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 $24.35 yesterday.

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