Foster Wheeler (FWLT) traded around 1,200 March $35/$30 bullish risk reversals Wednesday, costless trades (paying $1.15 on the calls and collecting $1.15 on puts.) Shares are re-testing a bullish channel breakout at $32, and also bounced off the 20 day EMA. There is substantial upside potential in the heavy construction Company’s shares that trade 12.7X earnings, PEG of 0.83, and 0.78X sales. Wunderlich put a Buy and $39 target on shares back on January 15th. Foster Wheeler engineers everything from wind farms to power plants, and is expected to benefit from stimulus dollars.