UPDATE: Deutsche Bank Raises PT on Chicago Bridge & Iron Ahead of NYC Investor Day
In a report published Tuesday, Deutsche Bank analyst Greg Poole reiterated a Buy rating on Chicago Bridge & Iron Company NV (NYSE: CBI), and raised the price target from $87.00 to $93.00.
In the report, Deutsche Bank noted, “CBI will be hosting an Investor Day in NYC on Wednesday, December 11th, and we expect this event to be a positive catalyst for shares. We expect management to strike a constructive tone towards 2014 by providing a strong new award outlook, above consensus EPS guidance and greater detail on its strategy for capital use/return. Against this backdrop, we are raising our price target from $87 to $93 and reiterating our Buy rating.”
Chicago Bridge & Iron Company NV closed on Monday at $78.61.
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