Fluor price target raised to $37 from $32 at Baird

Baird analyst Andrew Wittmann raised the firm’s price target on Fluor to $37 from $32 and keeps an Outperform rating on the shares. The analyst said the company appears to have been recognizing its profitability far more conservatively than the past which offers favorable upside potential in time, should execution merit. Overall, its discounted valuation and opportunity for asymmetric upside risk have the analyst incrementally more positive.