Aecom price target raised to $103 from $90 at Baird

Baird analyst Andrew Wittmann raised the firm’s price target on Aecom to $103 from $90 and keeps an Outperform rating on the shares. The analyst saidfundamentals appear to be remaining strong with organic revenue growth in its design business indicative of demand and competitiveness not seen at AECOM in a long time. Baird believes boring/predictable results and improving ROIC can/will drive continued multiple expansion