UPDATE: Deutsche Bank Initiates Jacobs Engineering with Hold on E&C Spending Cycle

In a report published Thursday, Deutsche Bank analyst Vishal Shah initiated coverage on Jacobs Engineering Group JEC with a Hold rating and $56.00 price target. In the report, Shah noted, “We are initiating coverage of JEC with a Hold rating and $56 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.” Jacobs Engineering Group closed on Wednesday at $51.45.