Jefferies Downgrades Chicago Bridge & Iron (CBI) to Hold
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Jefferies downgraded Chicago Bridge & Iron (NYSE: CBI) from Buy to Hold with a price target of $12.00 (from $35.00).
Analyst Martin Englert has concerns regarding cost overruns that could re-emerge and pose a risk to FY 2017-2019 EPS.
Shares of Chicago Bridge & Iron closed at $11.19 yesterday.
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