BofA raised the firm’s price target on Aecom to $100 from $95 and keeps a Buy rating on the shares after the company reported “a strong set of results” in Q1 and reaffirmed FY24 guidance. The design backlog increased 9% year-over-year to a new record, driven by a record win rate, says the analyst, who senses that “2024 is not ‘peak’ in terms of project activity” for Aecom.
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