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Fly News Breaks for June 21, 2017
CBI
Jun 21, 2017 | 11:13 EDT
Macquarie analyst Sameer Rathod issued an update report on CB&I, correcting his prior statement regarding Freeport LNG project delays of 9-12 months. He said a FERC approval will keep the project on track, but he still believes Freeport's plan to increase its workforce substantially would dramatically reduce profitability and push costs well ahead of what CB&I planned. The analyst reiterates his Underperform rating and maintains his lowered price target of $10 on CB&I shares.
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