Tutor Perini awarded two modernization contracts for $225M by MTA NYC Transit Tutor Perini has recently been awarded two signal system modernization contracts by MTA New York City Transit. These two projects totaling $225.5M will rehabilitate and modernize the signal systems at existing interlockings on the Queens Line. Both projects are expected to start this month and completion is expected in Q1 2017.
Tutor Perini added to Top Picks list at FBR Capital FBR Capital added Tutor Perini to its Top Picks list citing the recent weakness in the stock and reiterates an Outperform rating on the name. FBR thinks cash flow from the MGM/CityCenter settlements significantly improves Tutor's balance sheet. It has a $38 price target for the name.