Zacks Investment Research upgraded shares of URS Corporation (URS) from UNDERPERFORM to NEUTRAL on June 20, 2014, with a target price of $48.00.
URS is a leading provider of engineering, construction and technical services. We have upgraded our Underperform recommendation to Neutral on URS, with a target price of $48. During the first quarter of 2014, the company reported weak profits as well revenues, but it business overall is showing signs of improvement. The company's oil & gas and infrastructure divisions have reported improved revenues and backlogs. Further, the upstream, mid stream and downstream markets have also gained momentum again leading to better prospects for the company, going forward. However, uncertain macroeconomic environment continues to remain a headwind.
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