Credit Suisse Reinstates Willbros Group (WG) at Neutral
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Price: $0.16 --0%
Rating Summary:
0 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
0 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Earlier, Credit Suisse reinstated coverage on Willbros Group (NYSE: WG) with a Neutral rating and $12 price target, saying 2011 is likely a transition year for Willbros.
"We believe the ability for WG's stock to outperform its peer group remains challenging reflecting limited growth opportunities on gas transmission in 2011 coupled with the Canadian problem projects which will continue to depress EPS," said analyst J. Cook. "Recent meetings with PWR last week support our view that gas transmission will remain soft throughout 2011 and competitive pressures will likely keep margins down. Longer term, we believe WG is well positioned to benefit from infrastructure investment in the gas shales, but this is a 2012 and beyond story. Furthermore, while prospects are brighter on the electric utility side, we see more limited opportunities for WG to win material large transmission work outside of Oncor's Crez, which is known."
The firm sees 2011 EPS of $0.15, 2012 of $0.65 and 2013 of $0.80.
For more ratings news on Willbros Group click here and for the rating history of Willbros Group click here.
Shares of Willbros Group closed at $10.86 yesterday.
"We believe the ability for WG's stock to outperform its peer group remains challenging reflecting limited growth opportunities on gas transmission in 2011 coupled with the Canadian problem projects which will continue to depress EPS," said analyst J. Cook. "Recent meetings with PWR last week support our view that gas transmission will remain soft throughout 2011 and competitive pressures will likely keep margins down. Longer term, we believe WG is well positioned to benefit from infrastructure investment in the gas shales, but this is a 2012 and beyond story. Furthermore, while prospects are brighter on the electric utility side, we see more limited opportunities for WG to win material large transmission work outside of Oncor's Crez, which is known."
The firm sees 2011 EPS of $0.15, 2012 of $0.65 and 2013 of $0.80.
For more ratings news on Willbros Group click here and for the rating history of Willbros Group click here.
Shares of Willbros Group closed at $10.86 yesterday.
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