Jacobs Wins Air Force Contract

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Jacobs Engineering Group Inc. on Tuesday said it won a contract to provide research operations and support services for the U.S. Air Force Research Laboratory at Edwards Air Force Base.

The Pasadena engineering and construction company will provide support to the lab’s research operations, such as management and evaluation of liquid, solid, hybrid, electronic and chemical propulsion system tests. The three-year follow-on contract, which starts April 1, has a potential value of about $87 million.

Separately, Goldman Sachs upgraded Jacobs’ shares from “sell” to “neutral,” noting that the company’s prospects for winning more contracts in its key markets in North America and the Middle East were picking up.

Shares were up 76 cents, or 1.6 percent, to $49 in midday trading on the New York Stock Exchange.

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