Citi lowered the firm’s price target on Aecom to $93 from $105 and keeps a Buy rating on the shares. The analyst thinks most engineering and construction companies are well positioned to deliver “solid” Q3 results and good earnings growth in 2024 given a mix of elevated backlog and self-help optionality. When coupled with a recent pullback in the shares, the group offers “a good buying opportunity,” the analyst tells investors in a research note.
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