Bowman Consulting price target raised to $45 from $36 at DA Davidson

DA Davidson raised the firm’s price target on Bowman Consulting to $45 from $36 and keeps a Buy rating on the shares. The firm is boosting its estimates for the company’s 2024 and 2025 to reflect its recent deal activity and a backdrop that appears supportive of organic growth potential, the analyst tells investors in a research note. While the “roadbumps are to be expected”, Bowman’s long-term trajectory is intact, the firm added, stating that the company is building scale via ongoing acquisitions that should continue to enhance its future earnings power.