Truist raises AECOM's PT on positive growth view

Aecom

04/10/2024 14:11

** Shares of the AECOM  ACM.N  rose 5% at $107.69 premarket
    ** Truist Securities raises infrastructure consulting
company AECOM's  ACM.N  PT to $117 from $108, while maintaining
"buy" rating
    ** New PT represents 14% premium to stock's last close
    ** Co is investing to grow its water and environment
advisory business by expanding capabilities in digital
technologies and automation
    ** Investing in water business can provide higher return to
shareholders versus acquisitions - brokerage
    ** 11 of 12 brokerages rate the stock "buy" or higher, 1
"hold" ; median PT is $110 - LSEG
    ** Up to Thursday's close, stock had risen ~11% YTD

 (Reporting by Soumendra Mukherjee)
 ((Soumendra.Mukherjee@thomsonreuters.com))