- BofA analyst Michael Feniger upgraded Fluor Corp FLR to Neutral from Underperform with a $24 price target, implying an upside of 2.7%.
- Feniger says the sector's CAPEX forecasts continue to observe positive revisions on rising commodity prices.
- Feniger further cites Fluor's "record free cash flows" less dividend providing flexibility and the impact of core highway and bridge programs driving a 38% increase in spending levels.
- Recently, Credit Suisse raised the price target to $23 from $20 and maintained a Neutral rating on the shares.
- Price Action: FLR shares are trading higher by 4.66% at $23.37 on the last check Monday.
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