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Fly News Breaks for August 19, 2019
Aug 19, 2019 | 08:43 EDT
Barclays analyst Adam Seiden double upgraded Aecom to Overweight from Underweight stating that the company has among the lowest exposure to trade in his coverage and also has "an activist put." Meanwhile, he sees a separation or even sale of Management Services as increasingly likely, which he said could negate his concerns around cash flow. Seiden, who thinks the current premium being paid "for most things government services related" could potentially raise the stock's valuation further, has a $38 price target on Aecom shares.
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