Fluor Sees Price Target Hike to $47.50, Lifts 2025 EBITDA and EPS Guidance
Bank of America lifted Fluor's price target to $47.50 from $43 and kept a Neutral rating. Despite a $653 million revenue reversal and $533 million loss in Energy Solutions after a Santos court ruling, full-year EBITDA guidance rose to $510–$540 million and EPS to $2.10–$2.25 on a $28 billion backlog.
1. Bank of America Raises Price Target
On January 14, Bank of America analyst Michael Feniger elevated Fluor's price target from $43 to $47.50 while maintaining a Neutral rating, reflecting improved sector outlook in machinery, engineering and construction for 2026.
2. Santos Court Ruling Triggers Energy Solutions Loss
In the third quarter of 2025, the Energy Solutions segment recorded a $653 million revenue reversal and a $533 million segment loss following an unfavorable court ruling on the Santos project, which weighed on near-term segment performance.
3. Full-Year Guidance Rises on Strong Backlog
Despite Q3 headwinds, Fluor raised full-year adjusted EBITDA guidance to $510–$540 million and adjusted EPS to $2.10–$2.25, underpinned by a $3.3 billion award intake and a $28 billion project backlog supporting future execution.