APM Human Services International (ASX:APM) shares rose 6% to AU$3.45 in afternoon trading. The stock’s spike comes after APM Human Services was linked to Angus Knight buyout talks, which it has since refuted.
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Perth-headquartered APM Human Services is a multinational provider of management consulting services. It provides career training and professional development programs.
Angus Knight is one of APM’s competitors. The Australian Financial Review recently reported that APM was in talks to acquire Angus Knight, but APM denied any buyout discussions with its rival. Instead, APM detailed its plans to pursue strategic acquisition opportunities and spoke of initial talks with various targets.
APM share price forecast
APM Human Services shares have gained more than 23% over the past six months. Analysts believe the stock has more room to run. According to TipRanks’ analyst rating consensus, APM stock is a Strong Buy. The average APM share price forecast of AU$4.10 implies over 19% upside potential.
APM stock scores a nine out of 10 from TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform market expectations. Moreover, APM shares are gaining positive mentions on financial blogs. TipRanks data shows that financial blogger opinions are 100% Bullish on APM, compared to a sector average of 71%.
Final thoughts
Although APM Human Services denied holding buyout talks with its rival Angus Knight, the company made it clear that it’s pursuing accretive strategic acquisitions. Securing a good deal could significantly bolster APM’s financial performance.
