J.P. Morgan Maintains Overweight on Chicago Bridge & Iron

J.P. Morgan is out with its report today on Chicago Bridge & Iron CBI, maintaining Overweight. In its report, J.P. Morgan writes, "We affirm our Overweight rating on CBI (which is on the J. P. Morgan US Analyst Focus List), as its Q3 results, bookings and guidance affirmed our positive view of its business mix, including its strong leverage to gas (particularly LNG). We maintain our forward estimates and our YE 12 PT of $48.50." At the time of posting, shares of CBI were trading at $36.31, up 5.34% from Tuesday's close.