Goldman Sachs On U.S. Engineering & Construction

Goldman Sachs published a research report on Engineering & Construction in the U.S. In the report, Goldman Sachs writes "In our view, investors should stay selective as 2011 consensus estimates still look too high for certain EI stocks (e.g., Sell rated JEC). CL-Buy CBI ($28 price target) and Buy rated FLR ($57 price target) remain our top picks due to favorable end markets and 2011 earnings acceleration. We are also warming to Neutral rated FWLT ($26 price target). While we are 16% below consensus for 2011, we believe our expectations are more aligned with investors and the stock has shown support at $22-$23 due to a buyback program. We would get more constructive on FWLT on a share pullback or as we get closer to 2011 award catalysts coming to fruition." Related companies to this article include: Energy Infrastructure Chicago Bridge & Iron CBI CL Buy $ 23.76 $ 28.00 Fluor Corp. FLR Buy $ 49.47 $ 57.00 Foster Wheeler FWLT Neutral $ 23.77 $ 26.00 Jacobs Engineering JEC Sell $ 38.31 $ 35.00 KBR, Inc. KBR Neutral $ 24.82 $ 25.00 Civil Infrastructure AECOM Technology ACM Neutral $ 23.85 $ 28.00 Granite Construction GVA Neutral $ 22.85 $ 22.00 URS Corporation URS Neutral $ 38.20 $ 42.00 Power Infrastructure Quanta Services PWR Neutral $ 18.83 $ 21.00 The Shaw Group SHAW Neutral $ 34.19 $ 34.00