0958 ET - KBR's current market sentiment isn't one to get behind an uncertain outlook even if the stock is inexpensive, KeyBanc Capital Markets' Sangita Jain and Madison Lehan in a research note. The government contractor has faced a steady drip of negative news, most recently with the Defense Department terminating its HomeSafe program for cause. "We were hoping for a quick resolution on HomeSafe and for KBR's management to recast its outlook versus the 2024 analyst day, once that happened," say the analysts. "We got one but not the other." Jain and Lehan downgrade KBR to sector weight and lower estimates, but note they are "unconvinced that further downside estimate revisions are not pending." (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
June 23, 2025 09:58 ET (13:58 GMT)
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