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Fly News Breaks for December 12, 2018
FLR
Dec 12, 2018 | 06:44 EDT
Goldman Sachs analyst Jerry Revich removed Fluor from his firm's Conviction List while maintaining a Buy rating on the shares. Fluor management noted that it was underbid on a major U.S. liquefied natural gas project that the analyst expected to be a catalyst in 2019. The LNG catalyst is now likely in 2020, Revich tells investors in a research note. The analyst believes Fluor's end markets are close to trough but admits the immediate catalyst to a recovery has now been pushed out. He lowered his price target for the shares to $44 from $59.
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