Foster Wheeler AG’s “Neutral” Rating Reaffirmed at Zacks (FWLT)
Foster Wheeler AG (NASDAQ:FWLT)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Thursday, Analyst RN reports. They currently have a $34.00 target price on the stock. Zacks‘ target price points to a potential upside of 6.58% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Foster Wheeler with a target price of $34.00. The company had reported relatively weak performance in the last reported quarter (third quarter of 2013). The company is also impacted by the decline in the Power Group segment, due to lower orders. In addition, power generation markets remained weak globally. Unstable environmental regulations in Europe and a similar situation in the U.S., along with low natural gas prices, have also delayed the retrofit markets. However, its recent announcement of the company being acquired by AMEC strengthens its long-term objective of expansion across diverse sectors including upstream, minerals and metals. Also, being a part of AMEC will benefit the company’s continued growth in the energy sector and the increasing investments in the facilities to meet that demand. Recently, Foster Wheeler has also received a number of contracts for front-end engineering work and subsequent work for engineering, procurement and construction. “
Other equities research analysts have also recently issued reports about the stock. Analysts at Macquarie downgraded shares of Foster Wheeler AG from an “outperform” rating to a “neutral” rating in a research note on Friday, February 14th. Separately, analysts at BB&T Corp. downgraded shares of Foster Wheeler AG from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. They now have a $35.00 price target on the stock. Finally, analysts at Johnson Rice downgraded shares of Foster Wheeler AG from an “overweight” rating to an “equal weight” rating in a research note on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $30.00.
Shares of Foster Wheeler AG (NASDAQ:FWLT) traded up 0.22% on Thursday, hitting $31.97. The stock had a trading volume of 841,294 shares. Foster Wheeler AG has a one year low of $19.29 and a one year high of $33.08. The stock’s 50-day moving average is $30.77 and its 200-day moving average is $28.21. The company has a market cap of $3.146 billion and a price-to-earnings ratio of 23.23.
Foster Wheeler AG (NASDAQ:FWLT) is a supplier of engineering, construction and project management contractor and power equipment.
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