Baird upgraded ABM (ABM) to Outperform from Neutral with an unchanged price target of $56. The firm says Friday’s sharp negative reaction to the fiscal Q2 report presents an opportunity. Baird “had no qualms with the print” and even managed to raise estimates very slightly. ABM’s organic growth rates improved quarter-over-quarter, and its margins were held back a little on timing and accounting/mix, which offers a benefit to the future, the analyst tells investors in a research note. Baird sees a buying opportunity after the selloff.
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