Jacobs price target raised to $152 from $145 at BofA

BofA raised the firm’s price target on Jacobs to $152 from $145 and keeps a Neutral rating on the shares. The announcement that CFO Claudia Jaramillo is leaving the company comes at a time when Jacobs is executing a significant transformation, but this may be why there is an updated CFO announcement as the prior management change occurred before Jacobs announced plans to spin off and combine units with Amentum, the analyst tells investors in a research note. BofA is hosting the company in New York on May 28 and will look for clues on the company’s transformation, margin progression of standalone Jacobs, and capital allocation priorities.