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CBI.N

ISIN: US1672501095
SEDOL: 2200530

Rating:

HOLD

Target Price:

7.31 USD

Investment Horizon:

6 to 12 months
17th Jul 2009 View Report   Download

Company News Alert

Chicago Bridge & Iron Co. N.V. (CB&I;) has been awarded a US$530 mn contract (9% of FY 2008 revenues) from Abu Dabhi Gas Industries Ltd. (GASCO). This contract is a breath of fresh air for CB&I;at a time when its backlog is being eroded by the ongoing economic downturn. Therefore, we maintain our HOLD rating for the company despite the target price not supporting a HOLD at current price levels. We will reassess the NYSE common stock rating for CB&I;once the company releases its 2Q 09…

29th Apr 2009 View Report   Download

1Q 09 News Alert

Chicago Bridge & Iron Co. N.V. (CBI) reported a y-o-y decline in its 1Q 09 top-line, in-line with our estimate, reflecting a decline in revenues across all of its businesses. However, overall margins improved y-o-y due to lower cost of revenues. We are likely to revise our earnings estimates upwards in view of the better-than-expected operating performance in 1Q 09. Hence, although the target price does not support a HOLD at current…

27th Apr 2009 View Report   Download

Company News Alert

Chicago Bridge & Iron Co. N.V.’s (CB&I;) NYSE common stock price has appreciated significantly since our last update report, reflecting the impact of fluctuations in equity markets on the high beta stock. However, we expect the prevailing low prices for oil and economic downturn to result in a decline in the number of new projects coming on line, impacting the company’s revenues and margins during…

15th Apr 2009 View Report   Download

4Q 08 & FY 2008 Update Report

We believe the current economic downturn will continue to weigh heavily on the spending of Exploration and Production (E+P) companies over our investment horizon, as global hydrocarbon demand falters. Also, we have forecast lower hydrocarbon prices during FY 2009, which will compound the decline in the number of new projects coming on line, adversely impacting the performance of all Engineering…

26th Feb 2009 View Report   Download

Company News Alert

Chicago Bridge & Iron Co. N.V.’s (CB&I;) NYSE common stock price declined 30.6% in a single trading session on 25 February 2009, reflecting negative investor reaction to the company’s weak FY 2009 revenue guidance and the impact of Management’s decision to suspend the company’s dividend. Although the recent fall in oil prices is expected to negatively impact Oil Exploration and Production (E&P;)...