Zacks reiterated their neutral rating on shares of Chicago Bridge & Iron Company (NYSE: CBI) in a research report sent to investors on Monday morning. The firm currently has a $57.00 price target on the stock.
Zacks’ analyst wrote, “We are reaffirming our Neutral recommendation on Chicago Bridge & Iron Company with a $57.00 target price. The company delivered a solid third-quarter performance with earnings up 13.9% year over year and top-line growth of 15.0%. CBI benefited from the rising demand worldwide for energy infrastructure, especially in the LNG, gas processing and oil sands markets. Projects from round the world drove the upside during the year. Chicago Bridge & Iron is very positive about the increase in order activity in the LNG division, but market uncertainties increase the possibility of cancellations or push outs that may impact the cash flow and earnings of the company going forward.”
A number of other analysts have also recently weighed in on CBI. Analysts at UBS AG raised their price target on shares of Chicago Bridge & Iron Company from $51.00 to $59.00 in a research note to investors on Tuesday, February 12th. They now have a buy rating on the stock. Separately, analysts at Barclays Capital raised their price target on shares of Chicago Bridge & Iron Company from $53.00 to $57.00 in a research note to investors on Wednesday, January 23rd. They now have an overweight rating on the stock. Finally, analysts at Sterne Agee reiterated a buy rating on shares of Chicago Bridge & Iron Company in a research note to investors on Wednesday, December 26th. They now have a $56.00 price target on the stock.
Shares of Chicago Bridge & Iron Company opened at 54.84 on Monday. Chicago Bridge & Iron Company has a one year low of $32.48 and a one year high of $54.85. The stock’s 50-day moving average is currently $50.21. The company has a market cap of $5.308 billion and a P/E ratio of 19.11.
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