Jacobs price target raised to $174 from $161 at Argus

Argus raised the firm’s price target on Jacobs to $174 from $161 and keeps a Buy rating on the shares. The firm remains positive on the company’s “long-running turnaround” and sees its solid balance sheet, valuation metrics, and M&A-fueled growth as “appealing”, the analyst tells investors in a research note. Argus further notes that Jacobs’ backlog is growing with high-margin orders as the company stands to benefit from an eventual increase in U.S. and international infrastructure spending, also raising its FY24 and FY25 EPS views by 2c each to $8.52 and $9.32 respectively.