Fluor (FLR) PT Lowered to $50 at DA Davidson

DA Davidson analyst Brent Thielman lowered the price target on Fluor (NYSE: FLR) to $50.00 (from $55.00) while maintaining a Buy rating.

The analyst comments "We attended Fluor's Strategy Update day in Indiana including a visit to one of the company's major ongoing ATLS projects (Lebanon project). Messaging under its new leadership team conveys a continuation of a more risk-off approach (reimbursable pursuits) with a more intensive capital returns policy to shareholders in the coming years. We include a synopsis in this note - remain BUY/$50 PT (prev. $55)."

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