ABM price target lowered to $45 from $51 at UBS

UBS analyst Joshua Chan lowered the firm’s price target on ABM (ABM) to $45 from $51 and keeps a Neutral rating on the shares after the company reported a fiscal Q1 EBITDA shortfall attributed to weather/mix impacting the Technical Solutions business. While valuation does not look “overly demanding,” and growth has been “solid,” the firm stays on sidelines as the margin outlook remains “choppy,” the analyst tells investors.