Aecom downgraded to Equal Weight from Overweight at Barclays

Barclays analyst Adam Seiden downgraded Aecom (ACM) to Equal Weight from Overweight with a price target of $100, down from $135. The firm adjusted ratings in the machinery and construction group as part of its 2026 outlook. Barclays maintains a positive outlook for the sector heading into 2026, expecting modest share gains after several years of strong performance. It prefers machinery and rental companies due to cyclical and macroeconomic factors. The downgrade of Aecom reflects its targets being tied to artificial intelligence, which adds “complexity” and could hinder the stock’s multiple, the analyst tells investors in a research note.