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Fly News Breaks for June 28, 2017
CBI
Jun 28, 2017 | 07:31 EDT
Macquarie analyst Sameer Rathod raised CB&I's price target to $14 following the positive court decision from the Delaware Supreme Court. The analyst removed removed $3.60 per share of nuclear liability from his price target but said the company is not completely out of the woods yet as it continues to dramatically staff up existing jobs to offset delays due to poor labor productivity, delays in pipe deliveries and prefabrication. Rathod remains concerned about CB&I's maximum draw down of debt intra quarter and reiterates an Underperform rating.
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