Market Overview

UPDATE: Citigroup Reiterates Buy Rating, Raises PT on Chicago Bridge & Iron Company

Share:
Related CBI
CB&I Announces Storage Tank Award for Oil Sands near Fort McMurray, Alberta, Canada
CB&I, Chiyoda and Zachry Group Awarded Contract for LNG Liquefaction and Export Facility
Chicago Bridge & Iron N.V.'s (CBI) CEO Philip Asherman on Q1 2015 Results - Earnings Call Transcript (Seeking Alpha)

In a report published Friday, Citigroup reiterated its Buy rating on Chicago Bridge & Iron Company (NYSE: CBI), and raised its price target from $51.00 to $57.00.

Citigroup noted, “We rate CBI shares Buy/High Risk. We believe shares of CB&I represent an attractive investment for several reasons: 1) CB&I has the ability to benefit from projects across the hydrocarbon value chain, 2) shares trade at an attractive valuation compared to the peer group, 3) continued strong operational performance should lead to a narrowing of the self described “credibility gap” over time, 4) the company has a relatively robust potential project list, primarily in petrochemicals and LNG, and could net strong new orders in a competitive environment, and 5) CB&I has a strong ongoing flow of small and medium sized awards which generate roughly $500 million of work per quarter. Downside risks to our thesis include sudden declines in forward oil & gas prices and execution risk surrounding high-profile projects. Upside risks to our thesis could stem from material new awards, a continued rally in energy prices, and M&A activity that could result in an accretive EPS outlook.”

Chicago Bridge & Iron Company closed on Thursday at $45.49.

Latest Ratings for CBI

DateFirmActionFromTo
Apr 2015BarclaysMaintainsOverweight
Feb 2015JefferiesMaintainsBuy
Jan 2015Deutsche BankMaintainsBuy

View More Analyst Ratings for CBI
View the Latest Analyst Ratings

Posted-In: CitigroupAnalyst Color Price Target Analyst Ratings

 

Related Articles (CBI)

Around the Web, We're Loving...