Barclays (NYSE:BCS) maintained its "Overweight" rating on Flour Corp.(NYSE:FLR), citing mining in the short term and oil and gas markets in the long term.
"We believe the current level of backlog ($30bn+) could be supported by strength in Industrial & Infrastructure (I&I) markets alone in the next 2 years (led by mining). While we think Oil & Gas (O&G) end markets continue to provide the best longer-term upside EPS potential for FLR, the strength in mining work highlights the company's resilience through choppy markets and could continue to support EPS growth going forward."
Flour closed Thursday at $49.53, down $0.06, or 0.12 percent.
Barclays has a price target of $61 on Flour.
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