Ahead Of The Bell: Engineering And Construction

HARTFORD, Conn. (AP) — An analyst raised her share price targets for six engineering and construction companies Thursday, predicting benefits from higher oil and natural gas prices.

Analyst Tahira Afzal of KeyBanc Capital Markets wrote in a note to investors that key assumptions are that oil prices hold at more than $60 a barrel into next year "with an outlook of sustainability beyond the 2010 time frame."

She added that industrial demand in the United States "remains tepid but does not materially weaken further," and predicted federal stimulus spending will prompt more construction spending by federal agencies, offsetting a decline in state transportation spending. ...