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UPDATE: Stifel Nicolaus Raises PT to $56 on Jacobs Engineering Group on Bookings and Pricing Improvement

Related JEC
Earnings Scheduled For February 7, 2018
Benzinga's Top Upgrades, Downgrades For January 31, 2018

Stifel Nicolaus reiterated its Buy rating on Jacobs Engineering Group (NYSE: JEC) and raised the price target from $52.00 to $56.00.

Stifel Nicolaus commented, "JEC's bookings of $3.04B produced a quarterly book-to-bill rate of 1.10x, keeping the book-to-bill above the critical 1.00x level for 8 quarters running. Pricing continued to improve in the quarter, particularly within the company's process markets and the company is seeing engineering capacity tightening with craft labor next. … Management maintained FY2013 EPS guidance of $3.00-$3.50 and our estimate now stands at $3.42 vs. $3.40, previously on revenues of $12.1B, +11% y/y. For FY2014 our estimate remains unchanged at $3.82 on revenues of $14.1B, +16% y/y. We continue to rate JEC shares Buy with a price target of $56/sh."

Jacobs Engineering Group closed at $47.03 on Thursday.

Latest Ratings for JEC

Feb 2018Bank of AmericaMaintainsNeutralNeutral
Feb 2018CitigroupMaintainsNeutralNeutral
Jan 2018Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for JEC
View the Latest Analyst Ratings

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


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