Benchmark downgrades Jacobs on uncertainty from administration change

Benchmark analyst Josh Sullivan downgraded Jacobs (J) to Hold from Buy without a price target The incoming Trump administration is likely to have an impact on investment decisions domestically and globally, the analyst tells investors in a research note. The firm says that while this influence may be positive for Jacobs, such as reshoring manufacturing or near-term accelerated Chips Act spending, the reassessment period may also be volatile. Shifting political priorities are likely to create some uncertainty for Jacobs’ many projects, contends Benchmark. It cites the near-term uncertainty and lack of share catalysts before the February analyst day for the downgrade.