UPDATE: Sterne Agee Raises Target to $56 on URS Corporation

Sterne Agee raises its target on Buy-target on URS Corporation

to $56 from $45 on broader-based growth outlook. Sterne Agee says, "URS had multiple charges and adjustments that resulted in a confusing and messy quarter. Beyond that, management provided an optimistic revenue outlook by business segment, especially the Power Segment which continues to come back to life in the U.S. supported by new regulations and low- priced natural gas. URS continues to position itself in Federal markets that should provide growth opportunities beyond the total U.S. Federal budgetary growth outlook while industrial capital spending appears to be resuming." URS closed at $46.16 a share on Monday.