Zacks Investment Research upgraded shares of Chicago Bridge & Iron Company N.V. (CBI) from NEUTRAL to OUTPERFORM on July 12, 2013, with a target price of $74.00.
Chicago Bridge & Iron Company is the leading integrated engineering, procurement and construction services providers worldwide. We are upgrading our Neutral recommendation on Chicago Bridge to Outperform with a $74.00 target price. The company delivered a good first-quarter performance with earnings up 36.7% year over year and top-line growth of 87.4%. CBI is benefiting from the rising demand worldwide for energy infrastructure, especially in the LNG, gas processing and oil sands markets. Projects from round the world drove the upside during the year. Chicago Bridge & Iron is very positive about the increase in order activity in the LNG division, especially for LNG/low temperature storage systems (petrochemicals), an area where CB&I plans to aggressively capture market share.
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