KeyBanc analyst Sangita Jain lowered the firm’s price target on Fluor (FLR) to $54 from $60 and keeps an Overweight rating on the shares. The firm notes shares underperformed post Q4 on what it believes was disappointment from lack of SMR monetization and cost inflation at LNGC. That said, LNGC timing remains unchanged for mid-2025 first cargo, 2025 guidance is constructive, OCF profile is improving, share buybacks are a positive, and U.S. segment continues to shine, KeyBanc adds.
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