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Morgan Keegan Recommends Fluor- $94 target

Source: http://ceoblogger.wordpress.com/2008/08/11/morgan-keegan-recommends-fluor-94-target/
 Posted on Monday, August 11th, 2008 | In Current Market News, Market Commentary, Stocks to Watch
Contributed by: CEO Blogger (http://ceoblogger.wordpress.com) -

Richard Paget of Morgan Keegan recommends Fluor:

a. Fluor has traded down with the drop in oil prices and shares at current levels provide a buying  opportunity.

b.  Fluor continues to add new awards to its book of business, and the company should book at least 30% year-over-year backlog growth

c.  $94 price target is based upon a 24 times multiple of our 2009 EPS estimate. Given the strong macro environment, Fluor shares should trade at the upper end of its historical price to earnings range.

Track Richard’s picks at:

http://trackthepros.com/categories.php?category_id=470

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