UPDATE: Citi Raises Price Target on Babcock & Wilcox to $29

According to Citi, Babcock & Wilcox (NYSE: BWC) price target is raised to $29.

Citi said that on 11/08/11 BWC shares generated a total return of 6.5%. “Though we expect both EPS growth and multiple expansion over the next 12 months, we continue to believe that the risk-reward balance is more in line with a Neutral rating.”

Babcock & Wilcox closed yesterday at $24.03.

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