Readers of this space know that the investment bias is toward large-cap companies with demonstrated business models and who have a competitive advantage in established markets, preferably with a favorable global trend as a support. And with the above in mind, Fluor is worth a review.

Fluor Corporation (NYSE: FLR) is one of the world's largest engineering, procurement, construction and maintenance companies. The company oversees construction projects for a large range of industrial sectors worldwide, primarily in its core strengths: designing and building manufacturing facilities, refineries, pharmaceutical facilities, healthcare buildings, power plants, and telecommunications and transportation infrastructure.

Analysts see 20-25% revenue growth for F2008, after likely 15-18% revenue growth in F2007, driven by strong demand for oil and natural gas projects.

Further, mining and transportation work should remain solid, offsetting likely declines in FEMA-related hurricane recovery work. Margins should remain adequate. The Reuters F2007/F2008 EPS consensus estimates for FLR are $4.20 to $5.46.

In addition, analysts like Fluor's international footprint, with 59% of work outside the U.S., including more than 40% in Europe/Asia/Africa.

The risks? Analysts are keeping an eye Fluor's ability to complete projects on time and secure new business. Analysts are also watching FLR's labor costs.

The First Call mean rating for FLR is: Buy [15 firms]. Mean 2008 target: $163 [high: $185, low: $149].

Stock Analysis: Fluor is a moderate-risk stock not suitable for low-risk investors. Investors with an investment horizon longer than 2 years should be rewarded from FLR's shares. Sell/Stop Loss if you were to purchase shares in this company: $83.

Disclosure: Lazzaro has no positions in stocks. In addition to private real estate holdings, he owns corporate and municipal bonds, and cash certificates of deposit.