MKM Partners analyst Daniel Scott says the recent 16% pullback in KBR stock price over the past 3 weeks is a "buying opportunity", keeping his Buy rating and $25 price target on the stock. The analyst notes that while the correlation between crude oil prices and the E&C sector is high, he sees "several upcoming catalysts" potentially benefiting the stock. Specifically, Scott highlights KBR's NASA awards, SENSE program offering "over $1B alone", four LNG projects, and LOGCAP-V opportunities, with added anticipated cash infusion coming from the company's Ichthys LNG arbitration project in Australia that he expects to be used to pay down debt. The analyst also believes that KBR's valuation of 10.7-times forward earnings - below his coverage market cap average of 12.1-times - is "too compelling to ignore".

KBR announced it has signed a contract to provide its green ammonia technology, K-GreeN, for Fortescue's Holmaneset green energy project in Norway. Under the terms of the contract, KBR will provide technology license, proprietary engineering design, and FEED support engineering services for the 675 metric tonnes per day grassroots green ammonia plant in Norway.