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Fly News Breaks for October 12, 2018
FLR
Oct 12, 2018 | 07:30 EDT
Credit Suisse analyst Jamie Cook reiterated an Outperform rating and $74 price target on Fluor following the company's negative earnings pre-announcement call. Cook tells investors in a research note that while disappointing, the 17% selloff was less about the legacy problem projects in power and downstream, and the call left investors with more questions. Cook says the stock is likely to be in the "penalty box" in the short-term, but recommends buying the weakness.
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