Fluor Corporation’s (FLR) Price Target Lowered

Analyst Michael Dudas at Jefferies & Company, Inc. has lowered the price target for Fluor Corporation (NYSE: FLR) from $65 to $60.

The company has reported mixed results for the fourth-quarter, with strong margins, and declining backlog totals. The company reported EPS of $0.82 per share, which is below Jefferies’ estimate of $0.91, and consensus estimate of $0.88.

According to Jefferies, the company will benefit from its vast network of clients, resources, sizable backlog, and diversified business model.

Jefferies continues to rate Fluor Corporation as a Buy.