KBR price target raised to $90 from $72 at Truist

Truist raised the firm’s price target on KBR to $90 from $72 and keeps a Buy rating on the shares as part of a broader research note previewing Q1 results in Government Services. The firm is positive on the group’s Bookings as being supportive of Street organic growth expectations, along with the “relatively conservative” FY24 guidance across the space and the passage of a FY24 budget that is underpinning a strong start to the year for defense outlays, the analyst tells investors in a research note. Truist adds that KBR is its preferred name in the space and sees the company’s earnings growth outpacing peers through FY26.