Jacobs Engineering (JEC) PT Lifted to $54 at Jefferies

Jefferies analyst Martin Englert reiterated a Buy rating and raised his price target on Jacobs Engineering (NYSE: JEC) to $54.00 (from $48.00) following Q1 results.

Englert commented, "JEC reported adj. F2Q16 EPS of $0.75 (incl $0.03/sh benefits) which was ahead of our $0.70 estimate and consensus of $0.68. Mgmt. narrowed its F2016 EPS guide to $2.90-3.20 (vs. $2.80-3.30 previously). Post results we increase our PT to $54 (+$6) and maintain our BUY with improved margin outlook partly offset by lower revenue expectations."

For an analyst ratings summary and ratings history on Jacobs Engineering click here. For more ratings news on Jacobs Engineering click here.

Shares of Jacobs Engineering closed at $46.59 yesterday.

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