UBS analyst Steven Fisher upgraded Fluor to Buy from Neutral and raised his price target for the shares to $69 from $48. The analyst expects Fluor's backlog to inflect positively in Q3 and rise 35%-40% by the middle of 2019. Further, he expects the company's earnings per share to nearly double between 2018 and 2020 and reach $4.75 in 2020. The stock at current levels is pricing in little to no growth opportunities, Fisher tells investors in a research note. He sees Fluor's backlog growth coming from awards in liquefied natural gas, mining, infrastructure, and government.