Fluor likely to obtain more infrastructure deals, says Sterne Agee After a consortium that includes Fluor won a deal to replace New York's Tappan Zee Bridge, Sterne Agee expects the company to continue to add higher margin infrastructure backlog during 2013. The firm recommends buying the stock.
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.