KBR price target lowered to $67 from $70 at KeyBanc

KeyBanc analyst Sangita Jain lowered the firm’s price target on KBR (KBR) to $67 from $70 and keeps an Overweight rating on the shares. The firm notes that Q4 was a strong finish to 2024, and KBR provided a thorough, constructive outlook for 2025. Given uncertainty of DOGE, defense priorities, and award environment, KeyBanc views the initial 2025 guidance setting as prudent. The firm expects opportunistic share buybacks to use the new $750M authorization as prudent use of balance sheet given recent selloff.