UPDATE: Credit Suisse Raises Target on Fluor
Credit Suisse raises its price target on Outperform-rated Fluor (NYSE: FLR) to $75 from $73 as the company's model continues to reward with growth.
Credit Suisse says, "[The company's] its diverse business model continues to prove rewarding with Mining driving future growth as Oil & Gas ramps. Furthermore, we see margin improvement in late 2012-2013 driving more meaningful earnings upside surprise in 2013 and beyond. We revise our 2012E and 2013E to $3.75 and $4.60 (from $3.75 and $4.70), respectively. Our revised price target of $75 (from $73) assumes 15x our new 2014 EPS of $5.50, discounted back."
FLR closed at $60.36 a share on Wednesday.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.