Fluor price target raised to $47 from $46 at Truist

Truist raised the firm’s price target on Fluor to $47 from $46 and keeps a Buy rating on the shares. The stock was under pressure after its Q1 results as they included a $29M charge tied to growth for delays, craft labor and material escalation on a construction only subcontract for a non-Pemex client , but Fluor is set up to grow double digit higher-quality earnings and cash flow at an attractive multiple with opportunity for the stock to re-rate, the analyst tells investors in a research note.