Jacobs price target lowered to $161 from $166 at Citi

Citi lowered the firm’s price target on Jacobs (J) to $161 from $166 and keeps a Buy rating on the shares. The firm thinks the company’s fiscal 2025 guidance “somewhat underwhelmed investors,” but senses some conservatism baked in the outlook given still a cautious macro environment. Jacobs’ total backlog appears healthy and overall bookings environment seems robust, despite some softer verticals, and should position the company to generate solid sales growth in fiscal 2025, the analyst tells investors in a research note.