Sterne Agee Reiterates Buy Rating, $56 PT on Chicago Bridge & Iron Company

In a report published Wednesday, Sterne Agee Group reiterated its Buy rating and $56.00 price target on Chicago Bridge & Iron Company

. Sterne Agee noted, “CB&I continues to add backlog supporting a strong finish to 2012. We believe LNG engineering and structural work in new locations should provide ample opportunities for backlog expansion throughout 2013. We would add to or open positions.” Chicago Bridge & Iron Company closed on Monday at $45.35.