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Fly News Breaks for February 22, 2018
FLR
Feb 22, 2018 | 06:44 EDT
DA Davidson analyst Brent Thielman raised his price target on Fluor to $63, citing the company's changes in revenue recognition along with the positive impact of tax reform. Thielman adds that the management's commentary accompanying Q4 earnings offered a "varying cause for optimism", particularly in EC&M segment, with more opportunities in mining, petrochemicals and LNG. The analyst keeps his Neutral rating on Fluor, opting to "pick our spots" as backlog trails off through the first part of this year.
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