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CBI

CB&I

$13.37

-1.23 (-8.43%)

16:35
04/23/18
04/23
16:35
04/23/18
16:35

CB&I continues to have strong market outlook

CB&I continues to have a strong market outlook across a range of projects and offerings, including: Independent market forecasts continue to predict that global LNG demand will exceed supply by 2022-2023. To meet this demand, CB&I expects clients to make final investment decisions on key prospects in late 2018 or early 2019. The company and its joint venture partners continue to be well positioned in the U.S. Gulf Coast and East African regions to capitalize on the strengthening LNG market. The U.S. remains an attractive market for the petrochemical industry due to the abundance of secure and inexpensive feedstock. The company's EPC prospects in the U.S. include ammonia and methanol projects that CB&I is developing through front-end engineering work. Additionally, global demand remains healthy due to growth in ethylene, propylene, and various derivatives, especially in China, Southeast Asia, India and the Middle East. CB&I, through its Chevron Lummus Global joint venture, has a strong portfolio of technologies across a range of refining processes, from upgrading heavy oils to the production of cleaner and higher octane fuels.

  • 23

    Apr

CBI CB&I
$13.37

-1.23 (-8.43%)

12/19/17
MACQ
12/19/17
UPGRADE
MACQ
Neutral
CB&I upgraded to Neutral from Underperform at Macquarie
CBI (CBI) is being acquired by McDermott International (MDR).
12/20/17
MSCO
12/20/17
NO CHANGE
MSCO
Underweight
McDermott may have hard time recognizing CB&I synergies, says Morgan Stanley
Morgan Stanley analyst Ole Slorer said he sees room for concern over McDermott's (MDR) deal to combine in an all-stock transaction with CB&I (CBI). McDermott's "pristine" balance sheet and improved execution could be hurt by CBI's recent execution challenges and "higher than optimal" debt, while synergies from the merger may be difficult to realize, contends Slorer, who keeps an Underweight rating on McDermott shares.
01/24/18
KEYB
01/24/18
UPGRADE
Target $14
KEYB
Overweight
McDermott upgraded to Overweight with $14 target at KeyBanc
KeyBanc analyst Tahira Afzal upgraded McDermott (MDR) to Overweight from Sector Weight with a $14 price target. The analyst expects a "step-up in execution" at CB&I (CBI) following the merger and has confidence in a sustained improvement in the energy macro environment. He believes the deal will create value.
04/23/18
SBSH
04/23/18
NO CHANGE
SBSH
McDermott bid would need to be closer to $10/share to break CB&I deal, says Citi
Citi said Subsea 7's hostile bid for McDermott (MDR) for $7 per share was an interesting and unexpected move, but the firm believes any proposal would have to be closer to $10 per share to disrupt the current terms of the deal with CB&I (CBI), which it notes is well down the road toward closing. Citi's "strong sense" is that McDermott, with the support of a majority of its board, is intent on staying the course in closing the deal with CB&I, adding that it thinks McDermott is buying CB&I at or near the bottom of a backlog cycle.

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STL

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