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Fly News Breaks for August 30, 2017
CBI
Aug 30, 2017 | 14:16 EDT
BofA Merrill Lynch analyst Anna Kaminskaya lowered her price target on CB&I shares to $9.50 from $11.50, stating that she assumes the company will divest its Technology segment for its announced expectation of $2B, which she views at a conservative multiple due to the "forced sale" scenario the company is in. She has also lowered her forecast for profitability at its core E&C segment. Kaminskaya keeps an Underperform rating on CB&I shares.
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