Fluor price target lowered to $59 from $60 at Citi

Citi lowered the firm’s price target on Fluor to $59 from $60 and keeps a Buy rating on the shares as part of a Q4 earnings preview for the engineering and construction group. Despite a change in political administration in the U.S, Citi would mostly “stay the course” with its preferred names, the analyst tells investors in a research note. The firm views end markets and companies with good exposure to secular themes, largely enabled by the data center economy and continued growing infrastructure spend, to generate outperformance. Quanta Services (PWR) remains its top pick, followed by MasTec (MTZ) and Fluor (FLR).