ABM Industries (ABM) PT Bumped Up at Piper Jaffray Posts Q4

Piper Jaffray analyst George Tong raised his price target on ABM Industries (NYSE: ABM) to $30.00 (from $29.00) following Q4 results but maintained a Neutral rating.

Tong commented, "F4Q results reflected healthy revenue growth that surpassed Street expectations, driven by positive trends in ABM's onsite businesses. We see room for organic growth at ABM to accelerate as the company continues to realize traction in its OneABM cross-selling initiative. Coupled with margin expansion opportunity from declining SUI rates and improving business mix, we expect solid mid-to-high single digit annual EPS growth through F2017."

The firm cut FY 2015 EPS from $1.79 to $1.70 and set FY 2016 AT $1.81.

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 $28.16 yesterday.

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