Chicago Bridge & Iron Stock Downgraded as Company Agrees to Sell Itself [The Motley Fool]
CHICAGO BRDGE & IRON (CBI)
Last chicago brdge & iron earnings: 4/23 04:30 pm
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Source: The Motley Fool
Deutsche Bank and DA Davidson close out bullish bets at a loss. Every day, Wall Street analysts upgrade some stocks, downgrade others, and initiate coverage on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope... The news broke last night -- and broke Wall Street's heart: Chicago Bridge & Iron ( NYSE:CBI ) is selling itself to McDermott International ( NYSE:MDR ) . When that happens, all chance that analysts will profit from their buy ratings on Chicago Bridge will be lost. Accordingly, these analysts are canceling their bets and downgrading Chicago Bridge stock. Here's what you need to know. Two big oil infrastructure plays make a bet that they'll be better together -- but analysts are not so sure they will. Image source: Getty Images. Chicago's no bridge over troubled waters Let's start with a quick background on the troubles facing Chica
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