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.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ABM:
- Options Volatility and Implied Earnings Moves Today, December 13, 2023
- ABM sees FY24 adjusted EPS $3.20-$3.40, consensus $3.28
- ABM Reports Fourth Quarter and Full Year Fiscal 2023 Results and Provides Fiscal 2024 Outlook
- ABM reports Q4 adjusted EPS $1.01, consensus 92c
- Options Volatility and Implied Earnings Moves This Week, December 11 – December 15, 2023