Bowman Consulting price target lowered to $29 from $37 at Baird

Baird lowered the firm’s price target on Bowman Consulting to $29 from $37 and keeps an Outperform rating on the shares. The firm said 2Q24 results and updated guidance fell below prior plan and Street expectations, with management citing start-up timing delays in transportation and high interest rates’ impact on its large Buildings Infrastructure operations.