Barclays Maintains an 'Overweight' on Foster Wheeler (FWLT); Still Good Prospects in E&C/Power
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Price: $27.52 --0%
Rating Summary:
4 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
4 Buy, 12 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Barclays maintains an 'Overweight' on Foster Wheeler (NASDAQ: FWLT) price target of $42.00.
Barclays analyst says, "After attending meetings with FWLT management, we still see FWLT in the running for significant E&C projects over the next six months that could grow backlog and we get the sense that investors seem to underappreciate FWLT's relatively high margin power business, which still seems to have significant growth prospects in Asia and Northern Europe. Shares appear attractive after their recent sell-off trading at 9.0x 2012 estimated EPS and 0.9x the S&P vs. a historical five-year average of 14.1x NTM earnings and five-year relative average of 1.0x the S&P. Arguably more interestingly, FWLT's cash now represents almost 50% of its market capitalization, with the last time that occurred being March 2009 at the five-year low for the stock."
For more ratings news on Foster Wheeler click here and for the rating history of Foster Wheeler click here.
Shares of Foster Wheeler closed at $18.40 yesterday.
Barclays analyst says, "After attending meetings with FWLT management, we still see FWLT in the running for significant E&C projects over the next six months that could grow backlog and we get the sense that investors seem to underappreciate FWLT's relatively high margin power business, which still seems to have significant growth prospects in Asia and Northern Europe. Shares appear attractive after their recent sell-off trading at 9.0x 2012 estimated EPS and 0.9x the S&P vs. a historical five-year average of 14.1x NTM earnings and five-year relative average of 1.0x the S&P. Arguably more interestingly, FWLT's cash now represents almost 50% of its market capitalization, with the last time that occurred being March 2009 at the five-year low for the stock."
For more ratings news on Foster Wheeler click here and for the rating history of Foster Wheeler click here.
Shares of Foster Wheeler closed at $18.40 yesterday.
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