Standpoint Research Upgrades Foster Wheeler to Buy (FWLT)
Foster Wheeler (NASDAQ: FWLT) was upgraded by equities researchers at Standpoint Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $24.00 target price on the stock.
Shares of Foster Wheeler opened at 17.52 on Friday. Foster Wheeler has a 52 week low of $16.40 and a 52 week high of $33.40. The company has a market cap of $1.889 billion and a P/E ratio of 11.27.
Foster Wheeler last announced its earnings results on Tuesday, May 1st. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. On average, analysts predict that Foster Wheeler will post $0.49 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus raised their price target on shares of Foster Wheeler to $33.00 in a research note to investors on Wednesday, May 2nd. Separately, analysts at Lazard Capital upgraded shares of Foster Wheeler from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, May 2nd. Finally, analysts at DA Davidson reiterated a “neutral” rating on shares of Foster Wheeler in a research note to investors on Tuesday, May 1st. They now have a $25.00 price target on the stock.
Foster Wheeler AG (Foster Wheeler) operate through two business groups: the Global Engineering & Construction Group (Global E&C Group), and its Global Power Group.