Fluor could be ready to soar, according to UBS.
The firm upgraded the engineering and construction stock to buy from neutral in a Wednesday note, and upped its price target to $47 from $35.
UBS' new forecast implies 35.7% upside from Tuesday's $36.62 close.
"The stock has had a nice run from the bottom, but the prices have fairly reflected the risks to date; we think the stock price today reflects the company today, but not its potential over the next 1-2 years."
Fluor stock has ticked down 0.12% in 2023.
Persons:
Steven Fisher, Fisher, Gordie Howe, Michael Bloom
Organizations:
UBS, U.S . Securities, Exchange Commission
Locations:
North America