Jefferies Maintains Hold on Willbros Group (WG)

Jefferies is out with its report today on Willbros Group WG, maintaining Hold.

In a note to clients, Jefferies writes, "While there is a lot of potential activity for the Upstream business to unfold over the next several years, the near-term earnings outlook is challenging. The Downstream segment continues to be weighed down by depressed customer spending. The acquisition of InfrastruX seems to make sense strategically, but integration issues and internal inefficiencies, continue to negatively impact profitability."

Jefferies has a $10 PT on WG.

At the time of posting, shares of WG were trading pre-market at $9.70, down 0.21% from Tuesday's close.