UPDATE: Deutsche Bank Reiterates on Jacobs Engineering Group on Expected Positive Factors

In a report published Wednesday, Deutsche Bank analyst Greg Poole reiterated a Hold rating on Jacobs Engineering Group JEC, but lowered the price target from $64.00 to $60.00. In the report, Deutsche Bank noted, “While concerns over additional charges from ongoing project issues in Europe along with higher than expected SKM integration costs could remain a near term overhang on shares, we expect strong backlog growth and greater than expected SKM synergies to provide support at current levels. Maintain Hold, lower price target from $64 to $60.” Jacobs Engineering Group closed on Tuesday at $57.07.