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Fly News Breaks for April 21, 2016
CBI
Apr 21, 2016 | 06:55 EDT
Citi analyst Andrew Kaplowitz believes shares of CB&I already seem to be pricing in a significant decline in backlog. The analyst says the company's cash flow is "off to a good start" despite the weak bookings in Q1. Weak Q1 awards shouldn't materially impact 2016 earnings visibility, Kaplowitz tells investors in a post-earnings research note. He lowered his price target for CB&I to $48 from $50.
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