Goldman Sachs Downgrades KBR, Inc. (KBR) to Neutral
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Price: $38.58 +1.79%
Rating Summary:
10 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
10 Buy, 12 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded KBR, Inc. (NYSE: KBR) from Buy to Neutral with a price target of $32.00 (from $34.00).
Analyst Jerry Revich comments, "Our Buy rating had been predicated on strong North America LNG and US Chemicals capex cycle, but KBR's zero bookings on North America LNG projects despite $33bn of E&C awards was well below our expectations. We continue to see KBR as well positioned on Pacific Northwest LNG and are positive on additional opportunities for value enhancing capital deployment, but remain wary of thesis drift following KBR’s share loss with the LNG capex cycle shift to North America. Since being added to the Buy list on April 8, 2013, KBR is down 5% vs. the S&P 500 up 19%."
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 $27.38 yesterday.
Analyst Jerry Revich comments, "Our Buy rating had been predicated on strong North America LNG and US Chemicals capex cycle, but KBR's zero bookings on North America LNG projects despite $33bn of E&C awards was well below our expectations. We continue to see KBR as well positioned on Pacific Northwest LNG and are positive on additional opportunities for value enhancing capital deployment, but remain wary of thesis drift following KBR’s share loss with the LNG capex cycle shift to North America. Since being added to the Buy list on April 8, 2013, KBR is down 5% vs. the S&P 500 up 19%."
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 $27.38 yesterday.
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