Jacobs Engineering Group Inc. (J) PT Raised to $157 at KeyBanc

KeyBanc analyst Sangita Jain raised the price target on Jacobs Engineering Group Inc. (NYSE: J) to $157.00 (from $155.00) while maintaining an Overweight rating.

The analyst commented: "J reported a robust F3Q, and is on track to deliver 100 bps of margin expansion, toward the LT targets set at its analyst day. We believe with a realigned portfolio, J is on the path to achieving its stated objective of 50-80 bps of annual margin expansion with a goal of reaching an adjusted EBITDA margin of 16%+ by 2029. Our July 15th upgrade was predicated on our belief that J has the right set of assets and frameworks to deliver on the 6-8% annual NSR growth with expanding margins. With most of the restructuring and cost management noise behind it, we maintain OW and raise our PT to $157 due to our higher estimates."

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