Morgan Joseph Upgrades URS Corp (URS) to Buy; Current Level Provides Good Entry Point
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Morgan Joseph upgrades URS Corp (NYSE: URS) from Hold to Buy. Price target $48.
Morgan analyst says, "URS stock has declined roughly 27% from YTD highs in early June and we deem current levels a good entry point to own URS shares. We remain favorable on the company's Federal business, which is benefiting from increasing budgets for several government agencies. Furthermore, the domestic Infrastructure market is gaining momentum with expectations that 2010 & 2011 should be rife with new project awards. Although activity in the Power and Industrial & Commercial sectors has slowed in the near term, we believe URS is well-positioned for longer-term growth catalysts in those markets. Additionally, we believe URS will supplement organic growth with acquisitions, especially considering the company's improved balance sheet."
To see more analyst ratings on URS Click Here.
URS Corporation provides engineering, construction, and technical services to the power, infrastructure, Federal, and industrial and commercial market sectors in the United States and internationally.
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