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CBI

CB&I

$11.13

-0.49 (-4.22%)

12:15
08/25/17
08/25
12:15
08/25/17
12:15

CB&I put volume heavy and directionally bearish

Bearish flow noted in CB&I with 18,572 puts trading, or 4x expected. Most active are Sep-17 10 puts and 9/1 weekly 10.5 puts, with total volume in those strikes near 14,300 contracts. The Put/Call Ratio is 10.01, while ATM IV is up over 7 points on the day. Earnings are expected on November 6th.

CBI CB&I
$11.13

-0.49 (-4.22%)

08/11/17
FBCO
08/11/17
NO CHANGE
Target $13
FBCO
Neutral
CB&I price target lowered to $13 from $21 at Credit Suisse
Credit Suisse analyst Jamie Cook said that while CB&I's charges associated with Cameron and Freeport LNG and two gas fired power projects were expected, the $548M magnitude was bigger than expected. Also, unfortunately, since the two LNG projects are not expected to be complete until FY19, the market will "rightfully" remain concerned about potential additional charges, Cook tells investors. Cook lowered his FY17-19 estimates for CB&I and cut his price target on the stock to $13 from $21 while keeping a Neutral rating on the name.
08/16/17
JEFF
08/16/17
DOWNGRADE
Target $12
JEFF
Hold
CB&I downgraded to Hold from Buy at Jefferies
Jefferies analyst Martin Englert downgraded CB&I to Hold and cut his price target for the shares to $12 from $35. The analyst is concerned that cost overruns at the company's two LNG projects could reemerge, adding risk to 2017-2019 earnings.
08/16/17
AGIS
08/16/17
NO CHANGE
Target $77
AGIS
Buy
W.R. Grace could rally $10 on CB&I unit acquisition, says Aegis
Aegis analyst Chris Kapsch believes Grace (GRA) is likely to become bigger via acquisitions and that CB&I's (CBI) process technology licensing division is a potential target. CB&I is a highly motivated seller, looking to complete the divestiture by year end, Kapsch tells investors in a research note. He believes Grace may be willing to pay as much as $1.5B for the asset and his "rough math" suggests such a deal could be 55c-60c accretive in FY18. This sort of deal accretion could be worth as much as $10 per share for Grace's equity, Kapsch argues. He has a Buy rating on Grace with a $77 price target.
08/16/17
08/16/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Dick's Sporting (DKS) was downgraded to Neutral from Buy at Monness Crespi, Goldman Sachs, MKM Partners, Buckingham, Citi, and to Neutral from Positive at Susquehanna, while being downgraded to Hold from Buy at Deutsche Bank and to Sector Perform from Outperform at RBC Capital. 2. Teva (TEVA) downgraded to Neutral from Buy at Citi with analyst Liav Abraham saying Teva is "cheap, but not cheap enough." 3. Advance Auto Parts (AAP) downgraded to Neutral from Overweight at Atlantic Equities with analyst Sam Hudson citing limited near-term visibility. 4. SL Green Realty (SLG) and Kilroy Realty (KRC) were downgraded to Neutral from Buy at BofA/Merrill, while Gramercy Property Trust (GPT) was downgraded to Underperform from Neutral. 5. CB&I (CBI) downgraded to Hold from Buy at Jefferies with analyst Martin Englert saying he is concerned that cost overruns at the company's two LNG projects could reemerge, adding risk to 2017-2019 earnings. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

TWX

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DDAIF

Daimler AG

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BA

Boeing

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Embraer

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SSNLF

Samsung

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GE

General Electric

$14.49

-0.01 (-0.07%)

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XOM

Exxon Mobil

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QCOM

Qualcomm

$63.32

1.14 (1.83%)

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AYX

Alteryx

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MSFT

Microsoft

$94.06

2.33 (2.54%)

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DLB

Dolby

$62.26

0.4 (0.65%)

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Dolby

$62.26

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QCOM

Qualcomm

$63.32

1.14 (1.83%)

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USM

U.S. Cellular

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ICL

ICL

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LJPC

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NOK

Nokia

$5.80

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NOK

Nokia

$5.80

0.09 (1.58%)

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CHL

China Mobile

$47.89

0.16 (0.34%)

, NOK

Nokia

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CHL

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VOD

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  • 05

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NOK

Nokia

$5.80

0.09 (1.58%)

, FB

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RHT

Red Hat

$146.62

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INTC

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CSCO

Cisco

$44.00

1.06 (2.47%)

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DK

Delek US

$34.26

0.29 (0.85%)

17:04
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CSCO

Cisco

$44.00

1.06 (2.47%)

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CSCO

Cisco

$44.00

1.06 (2.47%)

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CSCO

Cisco

$44.00

1.06 (2.47%)

17:00
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Hot Stocks
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