UPDATE: Cowen and Company Initiates Coverage on Chicago Bridge & Iron Company NV with Outperform Rating, $98 PT on Multiple Positive Factors

In a report published Tuesday, Cowen and Company analyst Daniel W. Scott initiated coverage on

with an Outperform rating and $98.00 price target. In the report, Cowen and Company noted, “We are initiating coverage on Chicago Bridge & Iron with an Outperform rating and price target of $98/share. We favor CBI for its earnings growth and operating stability, exposure to diversified end markets, best in class margins, and strong technical operating groups. We believe CBI is well positioned to capitalize in the energy subsectors which we favor most, notably petrochemicals and LNG.” Chicago Bridge & Iron Company NV closed on Monday at $82.78.