BofA lowered the firm’s price target on Bowman Consulting to $34.50 from $36.50 on Friday, while keeping a Buy rating on the shares. The firm notes Bowman reported a weak Q2, with the commentary around slower “local” growth echoing the sentiment seen across its rental coverage, where growth rates and utilization levels have moderated from highs. Despite cutting guide for the first-time a as public company, Bowman remains confident in its long-term prospects, backed in part by large transportation projects working their way towards notice to proceed, BofA adds.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BWMN:
- Bowman Consulting price target lowered to $32 from $43 at DA Davidson
- Bowman Consulting price target lowered to $29 from $37 at Baird
- Bowman Consulting now sees FY24 net service billings $375M-$385M
- Bowman Consulting reports Q2 adjusted EPS (3c), consensus 3c
- Bowman Consulting expands Southwest Gas egagements into Northern Nevada and CA