UPDATE: Deutsche Bank Initiates Chicago Bridge & Iron with Buy on E&C Spending Cycle

In a report published Thursday, Deutsche Bank analyst Vishal Shah initiated coverage on Chicago Bridge & Iron Company

with a Buy rating and $87.00 price target. In the report, Shah noted, “We are initiating coverage of CBI with a Buy rating and $87 price target. For details, please refer to our larger document entitled ‘Initiating Coverage on E&C - Still In The Early Stages Of The E&C Spending Cycle' published on May 8, 2013.” Chicago Bridge & Iron Company closed on Wednesday at $57.08.