KBR (NYSE:KBR) EPS Estimates Raised on MWKL, Roberts & Schaefer Acquisitions

KBR, Inc. (NYSE:KBR) had its EPS estimates boosted for 2011 and 2012 by Barclays, citing their acquisitions of MWKL and Roberts & Schaefer.

Barclays says, "We raise our 2011 and 2012 EPS estimate to $2.20 and $2.45 from $2.10 and $2.35, respectively on higher accretion expectations for the MWKL and Roberts & Schaefer acquisitions. We also increase our price target to $36 based on 14x our new 2012 EPS estimate plus $2 in excess cash (was $35 on 14x old 2012 EPS estimate plus $2 in cash)."

Barclays reiterates an "Equalweight" rating on KBR, Inc., which closed Friday at $32.03, gaining $1.17, or 3.79 percent. Barclays increased their price target on KBR from $35 to $36.