BofA Upgrades This Engineering Construction Company

November 15, 2021 2:07 PM | 1 min read |

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.