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Fly News Breaks for June 28, 2017
CBI
Jun 28, 2017 | 07:16 EDT
UBS analyst Steven Fisher noted Chicago Bridge & Iron received a positive court decision from the Delaware Supreme Court, which he said reduces the legal overhang for the company. The analyst said Westinghouse could still sue CB&I for damages but it would be a separate legal process that has no guarantee of success. Fisher believes CB&I shares could see a further rebound as shorts elect to cover. Fisher maintained his Neutral rating and $21 price target on CB&I shares, which jumped 39% yesterday to close at $20.02.
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