UPDATE: Goldman Sachs Resumes Fluor Corporation with Neutral on Upside Potential

In a report published Monday, Goldman Sachs analyst Jerry Revich resumed coverage on Fluor Corporation

with a Neutral rating and $69.00 price target. In the report, Revich noted, “We are constructive on FLR's best in class franchise and execution track record, but believe consensus expectations price in an aggressive growth outlook despite visible headwinds from power, government, and mining as well as slowing growth in upstream oil & gas – end markets that account for 55% of sales. With shares trading at a 15% premium on 2014E P/E to the E&C group despite a balanced growth outlook, we prefer companies that have higher exposure and differentiated technology offerings in the LNG and petrochemical end markets where we see the strongest growth outlook.” Fluor Corporation closed on Friday at $62.03.