KBR shares rise on report activist investor Irenic has built stake

KBR

19/12/2024 14:05

** Shares of KBR Inc  KBR.N  up 5.1% at $58 premarket after
WSJ reports activist investor Irenic Capital Management has
built a stake in the government contractor 
    ** Report says Irenic plans to push KBR, which delivers
science and technology solutions to governments and companies,
to separate its segment that serves the private sector
    ** Adds Irenic has accumulated a more than 1% stake in the
company and plans to push management to spin off or sell its
sustainable technology solutions segment
    ** Eight of nine brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $78
    ** Up to Wednesday's close, stock had fallen 1.3% YTD

 (Reporting by Kannaki Deka)
 ((Kannaki.Deka@thomsonreuters.com))