Barclays Maintains an 'Overweight' on Flour (FLR); Outlook Remains Relatively Solid

Barclays maintains an 'Overweight' on Flour (NYSE: FLR) price target of $82.00.

Barclays analyst says, "After hosting meetings with company management, FLR remains one of our E&C top picks, as we continue to believe that its strength in mining, and gradually improving oil and gas end markets could help propel backlog and earnings growth over the medium to longer term."

"We think there are still enough sizeable mining prospects on FLR's radar to maintain or even potentially grow its Industrial & Infrastructure backlog in the near to medium term. While I&I backlog could be lumpy from quarter to quarter and growth could become more of a challenge as work on larger projects currently in backlog begins to accelerate, management continues to see upside potential in its mining business, and is tracking several sizeable projects that it thinks it could win over the next several quarters."

For an analyst ratings summary and ratings history on Flour click here. For more ratings news on Flour click here.

Shares of Flour closed at $52.52 yesterday.

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