Fluor Corporation (FLR) and Jacobs Engineering Group Inc (JEC) are two large-cap names set to benefit from the recovery in nonresidential construction with their market exposure and large domestic projects, says Tahira Afzal, Director and Equity Research Analyst at KeyBanc Capital Markets Inc.
“Jacobs Engineering is considered a blue chip E&C name in the space in terms of risk and in terms of exposure to the petrochemical market. That is a fairly obvious name out there on the petrochemical side, and we also believe it is well-positioned,” Afzal said.
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Afzal also sees opportunities in Fluor Corporation, the largest publicly traded E&C company in the U.S. that now has several proposed domestic projects.
“Over the past few years, they have had a more international than domestic focus, but it is a company that is based on many large projects. In fact, they have some of the very large projects that are proposed in the United States, so they definitely are also active in the U.S.,” Afzal said.
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