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Strategies & Market Trends : Value Investing

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To: anializer who wrote (37854)	5/11/2010 11:44:51 AM
From: E_K_S	Read Replies (1) of 78717

Hi anialzer - What will you be looking for that indicates FLR is no longer a hold? Is it technical analysis and/or some type of valuation metric? The market apparently is satisfied with their earnings report last night even though the stock sold off at the open, it is now up over 3% to $50.50/share. The most recent recovery high was on 4/26/2010 at $55.47/share (9.8% away). The stock is trading at both it's weekly and monthly 50 SMA after a successful test below all 50 SMAs (daily, weekly & monthly). Long term the 2007-2008 trading quartile range of $75-$95 would be a good future target price zone if the company's future earnings growth remains positive. I am not too sure what impact the BP offshore drilling accident will have on future drilling projects. Perhaps it will be limited to deep drilling projects and other land based project will continue to go forward. FLR gets a significant amount of its revenue from this sector, so any slow down (or delay) in project demand will impact their back log order book. EKS

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