KeyBanc Reiterates a 'Buy' on KBR, Inc. (KBR); Strong Execution, Bidding Activity Up
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Price: $38.37 +0.55%
Rating Summary:
10 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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KeyBanc reiterates a 'Buy' on KBR, Inc. (NYSE: KBR) price target of $43.00 (from $40.00).
Analyst, Matt Tucker, said, "We are reiterating our positive outlook on KBR, Inc. following its stronger than expected 2Q results and 2012 guidance, upbeat end market commentary, our 10-Q review and follow-up discussion with the Company. While 1H results were noisy and management acknowledged the timing of some of its larger projects have slipped since the start of the year (which we view as old news), we highlight that the strong 2Q performance and intact underlying earnings outlook reflect strong execution and higher margins on existing projects, positive mix shift and a stronger than expected level of baseload work. We view these factors as important positives in terms of earnings visibility and quality, and think they will remain key drivers going forward, offsetting some of the timing risk related to large prospects." (FY12 GAAP EPS estimate raised from $2.50 to $2.70)
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 $26.12 yesterday.
Analyst, Matt Tucker, said, "We are reiterating our positive outlook on KBR, Inc. following its stronger than expected 2Q results and 2012 guidance, upbeat end market commentary, our 10-Q review and follow-up discussion with the Company. While 1H results were noisy and management acknowledged the timing of some of its larger projects have slipped since the start of the year (which we view as old news), we highlight that the strong 2Q performance and intact underlying earnings outlook reflect strong execution and higher margins on existing projects, positive mix shift and a stronger than expected level of baseload work. We view these factors as important positives in terms of earnings visibility and quality, and think they will remain key drivers going forward, offsetting some of the timing risk related to large prospects." (FY12 GAAP EPS estimate raised from $2.50 to $2.70)
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 $26.12 yesterday.
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