UPDATE: Baird Upgrades ABM Industries (ABM) to Outperform

(Updated - June 21, 2022 6:32 AM EDT)

Baird analyst Andrew Wittmann upgraded ABM Industries (NYSE: ABM) from Neutral to Outperform with a price target of $50.00.

The analyst comments "We recently hosted non-deal management meetings. At 9.3x our F2023 EPS estimate and with a defensive/recurring revenue model which showed resiliency in both the 2009 and COVID downturns, we believe the risk/ reward has improved and that investors will be increasingly attracted to this model. Undoubtedly, ABM’s become a better company, with further opportunity remaining. The labor market has eased, this likely continues. While F2025 management targets still screen as a stretch, we’re not sure that matters in this market where defense is increasingly valued."

For an analyst ratings summary and ratings history on ABM Industries click here. For more ratings news on ABM Industries click here.

Shares of ABM Industries closed at $39.01 yesterday.

You May Also Be Interested In

• Keefe, Bruyette & Woods Upgrades Trustmark (TRMK) to Outperform
• Hilton Worldwide (HLT) PT Raised to $205 at Macquarie, 'we await a better entry point'
• Acrivon Therapeutics Inc (ACRV) PT Raised to $30 at Piper Sandler