Fluor price target raised to $60 from $59 at KeyBanc

KeyBanc raised the firm’s price target on Fluor (FLR) to $60 from $59 and keeps an Overweight rating on the shares. The firm says Fluor offers multiple paths to value creation, including SMR monetization creating room for M&A/Buybacks. More significantly, KeyBanc views Fluor as an emerging DC play. It expects the focus in 2025 to shift from tabulating DC power demand to FEED and FIDs for gas and small modular reactors announcements.