Aecom price target raised to $144 from $131 at KeyBanc

KeyBanc analyst Sangita Jain raised the firm’s price target on Aecom (ACM) to $144 from $131 and keeps an Overweight rating on the shares as the firm applies a higher multiple to reflect the company’s diversified end market and geographic exposure. Aecom’s outlook appears resilient, supported by backlog momentum and a global portfolio, the firm notes. Focus is on the upcoming CMD where KeyBanc expects a reiteration of the long-term NSR growth outlook of 5%-8%, and continued margin expansion likely helped using AI and a heavier bias to advisory/consulting work with offset from higher BDE to build for the next phase of growth.