DA Davidson analyst Brent Thielman raised his price target on Jacobs Engineering to $110 and kept his Buy rating after its Q4 earnings beat along with a "solid" growth rate in its underlying revenue and backlog. The analyst contends that a "radical transformation" of the company's business offers valuation support and expansion opportunity for the stock. Thielman adds that Jacobs Engineering offers investors a blend of "defense/offense" given its "significant financial flexibility, diminished project risk, and a healthy slate of steady long-term contracts with government entities".