Bowman Consulting price target raised to $49 from $45 at Roth MKM

Roth MKM raised the firm’s price target on Bowman Consulting to $49 from $45 and keeps a Buy rating on the shares after its better than expected Q4 results. The funding environment remains healthy, particularly in the Transportation and Power & Utilities segments, as these two segments posted outsized growth for the year and should continue to help diversify the business, the analyst tells investors in a research note. The firm anticipates a continuation of organic growth and M&A to facilitate scale for the next several years that provide an attractive growth profile and generate margin expansion, Roth MKM added.