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Fly News Breaks for October 14, 2019
ACM
Oct 14, 2019 | 14:06 EDT
As previously reported, BofA Merrill Lynch analyst Michael Feniger upgraded Aecom to Buy from Neutral after the company's Management Services sale announcement, stating he believes the stock has "more room to run" from here. He previously has been skeptical on Aecom's ability to execute on its transformation, but "today's events clearly change the narrative" and while the sale gets the headlines, he advises investors not to ignore the free cash flow outlook shared by the company. He raised his price target on Aecom shares to $45 from $37.
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.