Analyst Actions: Fluor PT Raised $4 at Credit Suisse, Keeps Outperform; Shares Down 1%

By Staff,

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Analysts at Credit Suisse have revised their earnings estimates for Fluor Corporation ( FLR ), while also raising the price target on the stock to $79 from $75 a share.

"FLR's tone was clearly more positive with regard to margin improvement and award prospects, particularly in oil and gas," said Credit Suisse after Fluor's call with analysts. "FLR noted oil and gas margins in backlog have improved as capacity is tightening, especially in craft labor, and as customers are increasingly looking to go after higher quality E&C players, playing to FLR's strength. Additionally, while larger EPC awards are expected in 2H'13, there is still an expectation of balanced awards throughout the year."

The firm has adjusted its FY2013-2015 EPS estimates to $4.30, $5.10, and $5.80 from $4.35, $4.90 and $5.50.

Shares of FLR are down 1.4% to $63.43 in afternoon trade, which is in the high end of the stock's 52-week range of $44.99 - $66.67.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: FLR

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