UBS maintains a 'Buy' on Flour (FLR); Record Backlog but Guidance Light
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Price: $52.42 +0.50%
Rating Summary:
13 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
13 Buy, 18 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS maintains a 'Buy' on Flour (NYSE: FLR) price target lowered from $77 to $70.
UBS analyst says, "Q3 EPS of $0.78 missed the Street, included ~$0.14 Gabbard charge...Backlog grew to record high; better than expected Gov’t and I&I...NuScale costs and oil/gas margins are headwind, but we see upside to 2012 The NuScale costs and lower oil/gas margins are headwinds, but otherwise we don’t think much changed or was different from our expectations exiting the results compared to going into the results. While the Gabbard charge was disappointing, backlog growth was better than expected and cash generation remains strong. We maintain our Buy rating; we think backlog can grow, and we see upside to the 2012 guidance mid-point." (UBS lowers FY12 EPS estimate from $4.00 to $3.80)
For more ratings news on Flour click here and for the rating history of Flour click here.
Shares of Flour closed at $58.60 yesterday.
UBS analyst says, "Q3 EPS of $0.78 missed the Street, included ~$0.14 Gabbard charge...Backlog grew to record high; better than expected Gov’t and I&I...NuScale costs and oil/gas margins are headwind, but we see upside to 2012 The NuScale costs and lower oil/gas margins are headwinds, but otherwise we don’t think much changed or was different from our expectations exiting the results compared to going into the results. While the Gabbard charge was disappointing, backlog growth was better than expected and cash generation remains strong. We maintain our Buy rating; we think backlog can grow, and we see upside to the 2012 guidance mid-point." (UBS lowers FY12 EPS estimate from $4.00 to $3.80)
For more ratings news on Flour click here and for the rating history of Flour click here.
Shares of Flour closed at $58.60 yesterday.
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