Truist raised the firm’s price target on ABM to $53 from $43 and keeps a Hold rating on the shares. ABM’s guidance for FY24 effectively matched the preliminary view and the company repurchased 4% of outstanding shares during the quarter, the analyst tells investors in a research note. ABM could buy back as much as 10% of shares by the end of FY25 while keeping leverage stable, the firm contends.
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