AECOM Technology (ACM) PT Raised to $129 at KeyBanc

KeyBanc analyst Sangita Jain raised the price target on AECOM Technology (NYSE: ACM) to $129.00 (from $120.00) while maintaining an Overweight rating.

The analyst commented: "We are raising our PT from $120 to $129 as we apply a higher multiple to reflect ACM’s diversified end market and geographic exposure. That said, we do not see ACM’s outlook at risk this year given its diversified end market and geographical exposure. We expect a reiteration of the LT NSR growth outlook of 5-8%, 20-30 bps margin expansion p.a., and DD+ EPS growth (although we expect NSR to be toward the lower end of the range in FY25). Water/environment and infrastructure modernization are key domestic growth drivers and should outpace international growth as U.K. infrastructure spending and AMP-8 see a delayed ramp."

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