KBR Stock Plummets After Project Suspensions

KBRs stock plummeted over five percent in morning trading following Truist Securities revised price target, now fifty dollars, down from sixty-two dollars. This adjustment is due to the suspension of Lake Charles LNG and Plaquemines projects, impacting KBRs Sustainable Technology Solutions business. Truist Securities revised earnings forecast for 2027 is now eight hundred eighty million dollars, sixteen percent lower than expected. Despite KBRs typically low volatility, todays drop indicates significant market concern, as the stock is down nearly thirty percent since the start of the year and thirty percent below its fifty-two-week high.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.