Deutsche Bank Downgrades Fluor (FLR) to Hold

Deutsche Bank downgraded Fluor (NYSE: FLR) from Buy to Hold with a price target of $40.00 (from $55.00) citing execution concerns.

Analyst Chad Dillard notes thee oil & gas bookings recovery is taking longer than expected suggesting downside
risk to 2018 street EPS. Further, Dillard said execution challenges are looking increasingly systemic and will likely remain an overhang for the next 18 months, putting the multiple at risk

For an analyst ratings summary and ratings history on Fluor click here. For more ratings news on Fluor click here.

Shares of Fluor closed at $43.86 yesterday.

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