B. Riley raised the firm’s price target on L.B. Foster to $23 from $17 and keeps a Neutral rating on the shares after the company reported Q4 results in line to ahead of the firm’s expectations. However, book-to-bill that was “soft” and backlog that was down year-over-year keeps the firm on the sidelines, the analyst tells investors.
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Read More on FSTR:
- L.B. Foster sees FY24 revenue $525M-$560M
- L.B. Foster reports Q4 EPS 4c vs ($4.09) last year
- L.B. Foster Exceeds 2023 Guidance; Delivers Strong Cash Flow, Improves Leverage, and Returns Capital to Shareholders; Establishes 2024 Guidance and Reiterates 2025 Goals Aligned with Strategic Transformation
- L. B. Foster Company (FSTR) Q4 Earnings Cheat Sheet
- L.B. Foster Company to Report Fourth Quarter and Full Year 2023 Operating Results on March 5, 2024
