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Fly News Breaks for June 18, 2019
ACM
Jun 18, 2019 | 08:17 EDT
Credit Suisse analyst Jamie Cook raised his price target for Aecom to $39 from $32 after the company announced plans to spin off its Management Services segment in the second half of 2020. The analyst believes the announcement is a step in the right direction in terms of unlocking shareholder value as the spin is expected to re-rate its MS business closer to the Government IT Services sector which currently trades at about 14-times EBITDA. Cook reiterates a Neutral rating on the shares.
News For ACM From the Last 2 Days
ACM
Mar 26, 2024 | 08:07 EDT
Argus analyst John Staszak raised the firm's price target on Aecom to $112 from $99 and keeps a Buy rating on the shares. The firm believes that the growing demand for road and water projects should provide the company's Design & Consulting Service segment with a stable source of revenue, noting that the total backlog in the design business increased by 9% over the prior year to $21.8B, which set a new record. Aecom shares also appear favorably valued at 20.8-times the firm's FY24 EPS estimate, below the peer average of 25-times, the analyst tells investors in a research note.