Credit Suisse Thinks Fluor Corp’s Stock is Going to Recover

By Austin Angelo

In a report released yesterday, Jamie Cook from Credit Suisse maintained a Buy rating on Fluor Corp (FLRResearch Report), with a price target of $56. The company’s shares closed yesterday at $34.40, close to its 52-week low of $29.78.

According to TipRanks.com, Cook is a 4-star analyst with an average return of 5.5% and a 55.4% success rate. Cook covers the Basic Materials sector, focusing on stocks such as Aecom Technology Corp, Jacobs Engineering, and KBR Inc.

Currently, the analyst consensus on Fluor Corp is a Moderate Buy with an average price target of $48.80, which is a 41.9% upside from current levels. In a report issued on February 4, Citigroup also maintained a Buy rating on the stock with a $56 price target.

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Based on Fluor Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $77.35 million. In comparison, last year the company had a net profit of $60.3 million.

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Fluor Corp. is a holding company engages in engineering and technology. It operates through the following segments: Energy, Chemicals & Mining, Industrial, Infrastructure & Power, Government and Diversified Services.