Market Overview

UPDATE: Stifel Nicolaus Raises PT to $7 on Willbros Group Following Sale of Oman Interests

Share:
Related WG
Morning Market Losers
Credit Suisse's 5 Industrial Stocks To Avoid

Stifel Nicolaus reiterated its Buy rating on Willbros Group (NYSE: WG) and raised the price target from $6 to $7.

Stifel Nicolaus said, "Willbros (WG) group filed an 8k on January 10th, detailing the sale of its interests in Oman. WG sold its interest for $41.3 million, which will net WG over $36 million after transaction related costs. We estimate that the sale price represents ~5.0-5.5x TTM EBITDA for the operations. We view the transaction multiple as reasonable, for what was one of WG's more profitable operations. We support the decision to sell in light of more pressing liquidity needs and the non-core aspect of WG's Oman operations."

Willbros Group closed at $5.68 on Thursday.

Latest Ratings for WG

DateFirmActionFromTo
Mar 2015DA DavidsonDowngradesNeutralUnderperform
Feb 2015Avondale PartnersDowngradesMarket OutperformMarket Perform
Feb 2015DA DavidsonMaintainsNeutral

View More Analyst Ratings for WG
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (WG)

Around the Web, We're Loving...