KeyBanc Cuts Price Target on URS Corp (URS) But Remains Bullish
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Price: $52.73 --0%
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 8 | New: 6
Rating Summary:
5 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 2 | Down: 8 | New: 6
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KeyBanc is reiterating its Buy rating on shares of URS Corp (NYSE: URS), but is cutting its price target from $54 to $52 following its Q3 results and follow-up discussion with management.
The firm notes that URS continue to be one of its favorite large-cap value plays in its coverage space. The company solid earnings for Q3 indicates underlying earnings power outside of project issues, which KeyBanc states appear to be behind URS at this time.
Management is looking for strong organic growth for 2012 and the firm believes that it will be achievable.
An analyst at KeyBanc comments, "URS is entering 2012 with reasonable comps. Hence, even with a relatively lighter share buyback assumption of 1 million
shares and no inorganic contribution, we can still reach our 2012 EPS estimate of $4 fairly comfortably, assuming URS’s more cyclical markets continue to show strength and public spending oriented markets remain largely stable."
For an analyst ratings summary and ratings history on URS Corp click here. For more ratings news on URS Corp click here.
Shares of URS Corp closed at $36.64 yesterday.
The firm notes that URS continue to be one of its favorite large-cap value plays in its coverage space. The company solid earnings for Q3 indicates underlying earnings power outside of project issues, which KeyBanc states appear to be behind URS at this time.
Management is looking for strong organic growth for 2012 and the firm believes that it will be achievable.
An analyst at KeyBanc comments, "URS is entering 2012 with reasonable comps. Hence, even with a relatively lighter share buyback assumption of 1 million
shares and no inorganic contribution, we can still reach our 2012 EPS estimate of $4 fairly comfortably, assuming URS’s more cyclical markets continue to show strength and public spending oriented markets remain largely stable."
For an analyst ratings summary and ratings history on URS Corp click here. For more ratings news on URS Corp click here.
Shares of URS Corp closed at $36.64 yesterday.
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