Jefferies & Co. were so impressed with a meeting they had with Fluor Corporation (NYSE:FLR) recently they increased their price target to $60 a share, and has a "Buy" rating on the stock.
Jefferies said in a note to clients, "Fluor should benefit from its vast global network of clients, resources, sizable backlog, and diversified model. With a proven management team and a strong balance sheet, Fluor should deliver growth from current levels.
"Fluor is prospecting several road and rail opportunities globally, many of which are in the U.S. Fluor remains the only one in its peer group assigned an A credit rating. Management expects to improve its ratings and remains committed to balance sheet strength."
Flour closed Monday at $44.89, down $0.86, or 1.88 percent.
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