Truist is bullish on KBR‘s (KBR) announcement to separate the company’s MTS and STS segments into distinct entities. The firm likes that the new KBR could trade for 7-11 times premium from current company levels, and Truist expects minimal contract overlap and stranded costs. The firm has questions on the SpinCo leadership and the right multiple for standalone MTS. Truist reiterates a Buy rating on the shares.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on KBR:
- KBR intends to spin off Mission Technology Solutions segment
- KBR reaffirms previously issued fiscal year 2025 outlook
- KBR management to meet virtually with KeyBanc
- As U.S. and UK Enter a ‘Nuclear Golden Age’, What Are the Best Stocks to Buy?
- KBR awarded task order contracts totaling $175M by the Air Force