Bank of America analyst Michael Feniger has adjusted the price target for Fluor Corporation (FLR, Financial), reducing it from $44 to $36.50. The adjustment comes with a maintained Neutral rating on the stock. Feniger highlights a difficult landscape facing the Machinery, Engineering & Construction (E&C), and Waste sectors, which may face adverse outcomes as companies grapple with upcoming earnings reports.
The analyst suggests that firms are likely to either lower their guidance in response to market uncertainties or risk seeming disconnected from current realities. As a result, Bank of America is revising price targets across the sector. The firm is also shifting its focus more towards service-based areas such as aggregates, rentals, and waste management, rather than sticking with original equipment manufacturers.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 9 analysts, the average target price for Fluor Corp (FLR, Financial) is $48.33 with a high estimate of $60.00 and a low estimate of $40.00. The average target implies an upside of 47.18% from the current price of $32.84. More detailed estimate data can be found on the Fluor Corp (FLR) Forecast page.
Based on the consensus recommendation from 9 brokerage firms, Fluor Corp's (FLR, Financial) average brokerage recommendation is currently 2.2, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Fluor Corp (FLR, Financial) in one year is $39.70, suggesting a upside of 20.89% from the current price of $32.84. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Fluor Corp (FLR) Summary page.
