Babcock & Wilcox price target lowered to $5 from $8 at Lake Street

Lake Street lowered the firm’s price target on Babcock & Wilcox to $5 from $8 and keeps a Buy rating on the shares. Q4 revenue of $200.8M was below the firm’s estimate, but results were as expected after adjusting for asset sales, the analyst tells investors. The company is working to further improve the balance sheet with further asset sales and debt restructuring, notes the firm, which expects further progress in the next few months could be “a catalyst for shares.”