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UPDATE: D.A. Davidson Reiterates On Foster Wheeler AG Following Q3 EPS Report

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In a report published Tuesday, D.A. Davidson analyst John B. Rogers reiterated a Neutral rating on Foster Wheeler AG (NASDAQ: FWLT), but lowered the price target from $32.50 to $31.20.

In the report, D.A. Davidson noted, “Foster Wheeler reported EPS of $0.25, which was well below our estimates and recent trends as indicated below. Most of the operating variance was due to lower contribution from the Power Generation segment. Reported EPS also included a $0.02 charge related to asbestos settlements, $0.04 of costs associated with the pending acquisition, and higher than expected taxes, which reduced EPS by $0.05 relative to our model and prior year levels.”

Foster Wheeler AG closed on Tuesday at $30.84.

Latest Ratings for FWLT

DateFirmActionFromTo
Nov 2014MaintainsNeutral
Mar 2014Initiates Coverage onMarket Perform
Feb 2014DowngradesOutperformNeutral

View More Analyst Ratings for FWLT
View the Latest Analyst Ratings

Posted-In: D.A. Davidson John B. RogersAnalyst Color Price Target Analyst Ratings

 

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