Jefferies Reiterates Hold on Willbros Group

Jefferies reiterated its Hold rating on Willbros Group WG. In a research report published today, Jefferies states, "Following a recent meeting with senior management and a site visit to the BP Solar project in Long Island, NY, we are modestly more positive on WG. We maintain our Hold, but it appears recent strategic initiatives could allow WG to return to sustained profitability." At the moment, Jefferies has a price target of $10 on the company's stock. On Friday, Willbros lost 2.85% of its value to close the week at $8.87.