UBS Maintains a 'Buy' on AECOM Technology (ACM) After $300 Million Buyback Announced

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UBS maintains a 'Buy' on AECOM Technology (NYSE: ACM) price target of $25.00.

Analyst, Steven Fisher, noted the company's announcement last night:

The Company's Board of Directors has authorized the repurchase of up to $300 million of its common stock.

"This repurchase authorization reflects our confidence in AECOM’s long-term outlook and the focus of our capital-allocation strategy on driving sustainable returns as we continue to make progress in areas such as balanced growth, profitability and liquidity," said John M. Dionisio, AECOM chairman and chief executive officer.

For an analyst ratings summary and ratings history on AECOM Technology click here. For more ratings news on AECOM Technology click here.

Shares of AECOM Technology closed at $19.09 yesterday, with a 52 week range of $14.50-$24.28.

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