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Fly News Breaks for November 8, 2016
FLR
Nov 8, 2016 | 07:30 EDT
Credit Suisse analyst Jamie Cook downgraded Fluor to Neutral and lowered its price target to $49 from $53. Cook remains concerned about slowing project burn-rates, and new awards that are likely pushed out into FY18. He sees few catalysts to get Fluor out of the "penalty box" given earnings visibility remains cloudy and CP Chem problem project is likely to remain an overhang and not likely completed until October 2017.
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