Citi analyst Andrew Kaplowitz raised his price target for Aecom to $47 from $43 after the company announced a $2.4B deal to sell its Management Services business to private equity firms Lindsay Goldberg and American Securities. The deal should bring in $2.35B of after tax cash proceeds, which, along with the $700M of free cash flow generated in fiscal Q4, will be used toward debt reduction and share repurchases, Kaplowitz tells investors in a research note. The analyst likes the deal, views it as a "step in the right direction," and keeps a Buy rating on Aecom shares.