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Upgrade Alert for Chicago Bridge & Iron (CBI)

By David Diaz

Chicago Bridge & Iron (NYSE:CBI) was upgraded from Accumulate to Buy at Johnson Rice today. The stock closed yesterday at $37.76 on volume of 1.7 million shares, above average daily volume of 1.4 million.

Chicago Bridge & Iron Company N.V. engineers and designs, fabricates, erects, and repairs steel plate structures and their associated systems. The Company builds and repairs bulk liquid terminals, storage tanks, process vessels, and low temperature and cryogenic storage facilities.

Chicago Bridge & Iron (NYSE:CBI) has potential upside of 49.6% based on a current price of $37.76 and analysts' consensus price target of $56.50. The stock should find resistance at its 200-day moving average (MA) of $40.30, as well as support at its 50-day MA of $36.66.

In the past 52 weeks, shares of Chicago Bridge & Iron have traded between a low of $31.30 and a high of $59.45 and closed yesterday at $37.76, which is 21% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 0.9%.

SmarTrend is monitoring the recent change of momentum in Chicago Bridge & Iron. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chicago Bridge & Iron in search of a potential trend change.

Keywords: analyst upgrades/downgrades chicago bridge & iron

Ticker(s): CBI