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Fly News Breaks for February 26, 2018
Feb 26, 2018 | 06:07 EDT
Deutsche Bank analyst Chad Dillard lowered his price target for KBR to $19 from $23 but views the recent share selloff as overdone. The stock fell 16% on Friday on concerns that KBR will need to use its balance sheet to fund a distressed project and that management guided 2018 earnings too aggressively, Dillard tells investors in a research note. The analyst views the likelihood of an equity raise as very low and believes the 2018 guidance is "very achievable." He thinks the shares overshot to the downside and keeps a Buy rating on KBR.
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