Jefferies Says Foster Wheeler Is A Buy (FWLT)

Jefferies & Company has a Buy rating on shares of Foster Wheeler (NASDAQ: FWLT) and a price target of $40.00. During the current trading session, FWLT has lost 2.76% and is trading at $26.74. In a research note from today, Jefferies analysts wrote "we believe Foster Wheeler managed through a difficult 2009 better than its peers. Although the company faces challenges/competitive pressures, we believe strong execution will deliver margin & earnings growth in 2011. Foster Wheeler (FWLT) is positioned to benefit once client confidence returns and new awards normalize."

Foster Wheeler Ltd. is a global engineering, procurement and construction services company and a power equipment supplier. The company operates through two business groups: Global Engineering and Construction Group and the Global Power Group.