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Fly News Breaks for May 9, 2018
FLR
May 9, 2018 | 08:39 EDT
As previously reported, BofA/Merrill upgraded Fluor two notches to Buy from Underperform and raised its price target to $58 from $37. Analyst Anna Kaminskaya said she is more constructive on the energy and mining capex cycle, which should recover in 2H 2018, as firms catch up on under investment over the past few years. The analyst believes we are in the "early innings" of the capex cycle that will upstage margin risk at Fluor's current valuation, where profits for the segment can at least double.
News For FLR From the Last 2 Days
