Citi raised the firm’s price target on Jacobs (J) to $166 from $138.60 and keeps a Buy rating on the shares. The firm sees further upside to its preferred engineering and construction names saying continued healthy end market demand trends and ongoing self-help initiatives should support earnings growth. Earnings visibility remains “reasonably elevated” for most in the group heading into the Q3 results, the analyst tells investors in a research note. Quanta Services (PWR) remains Citi’s top pick followed by MasTec (MTZ) and Aecom (ACM).
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