Flour awarded engineering services contract by Williams Fluor Corporation (FLR) announced that it was awarded a contract by Williams (WMB) to provide preliminary engineering services for a proposed propane dehydrogenation project near Redwater, Alberta, Canada. Fluor booked the contract in Q4 for an undisclosed value.
Fluor downgraded to Underperform from Buy at BofA/Merrill As previously reported, BofA/Merrill assumed coverage on Fluor with an Underperform rating from a Buy rating. The firm sees better value elsewhere in the sector and expects double-digit backlog decline and peak earnings in 2015. Price target is $51.