Citi Initiates Coverage On KBR With Buy Rating

According to Citi, KBR KBR coverage is initiated with Buy rating. Citi said that it rates KBR Buy/Speculative (1S) with a 12-month target price of $52.00/share. “KBR should appeal to investors willing to accept a speculative level of risk and seeking exposure to: 1) oil & gas spending in emerging markets (i.e. both upstream and downstream), 2) the robust LNG market, 3) U.S. and international government defense spending, 4) global infrastructure, and 5) power generation (i.e. fossil and renewable) and environmental control spending.” KBR closed yesterday at $37.04.