Aecom price target raised to $99 from $98 at Argus

Argus analyst John Staszak raised the firm’s price target on Aecom to $99 from $98 and keeps a Buy rating on the shares. The company reported a “strong” Q4 while its Backlog in the design business increased by 12% to a record high, the analyst tells investors in a research note. Argus adds that it expects the growing demand for road and water projects to provide the company’s Design & Consulting Service with a stable source of revenue.