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Fly News Breaks for August 22, 2019
KBR
Aug 22, 2019 | 06:28 EDT
BofA/Merrill analyst Michael Feniger resumed coverage of KBR with a Buy rating and a price target of $30. The analyst notes that the company's transformation efforts under CEO Bradle that started 5 years ago, including investment in the government services platform, transitioned from focus on large scale projects, and exit from non-strategic areas, are starting to bear fruit. Feniger believes that KBR's "more disciplined" and "less cyclical" portfolio will yield a more steady growth amid a slowing macro backdrop.