Aecom price target raised to $99 from $94 at KeyBanc

KeyBanc raised the firm’s price target on Aecom to $99 from $94 and keeps an Overweight rating on the shares. The firm notes Aecom reported an in-line quarter, cited strong prospect inventory globally, highlighted ongoing efforts to high-grade its portfolio, and initiatives to move upmarket through energy transition and digital consulting opportunities, while maintaining strong win rates. KeyBanc believes that Aecom’s strategy of organic growth in key targeted markets should allow it to meet its long-term 5%-8% top line, and potentially beat its long-term margin target of 17%.