We Remain Optimistic On Fluor’s Market Position, Says William Blair


In a research report issued today, William Blair analyst Chase Jacobson maintained an Outperform rating on Fluor (NYSE:FLR) with a price target of $85.00.

Jacobson said, “While we remain optimistic on Fluor’s market position (which it is working to further enhance), quality backlog, and strong balance sheet, in the near term we believe 2015 consensus EPS growth expectations are simply too high based on our view of timing of oil and gas projects as well as pressures in other businesses. Therefore, we remain constructive on shares of Fluor as a way to play ongoing energy infrastructure investment, but caution that near-term macro headwinds related to timing of final investment decisions on major projects, declining oil prices, and concern that initial 2015 EPS guidance (to be provided with third quarter 2014 results) will likely be below consensus could limit share price upside in the near term.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chase Jacobson has a total average return of 2.5% and a 46.2% success rate. Jacobson has a -1.5% average return when recommending FLR, and is ranked #1868 out of 3274 analysts.

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