Baird downgraded Aecom (ACM) to Neutral from Outperform with an unchanged price target of $143. The company’s artificial intelligence strategy look ahead of peers and should aid its results over the medium term, the analyst tells investors in a research note. However, artificial intelligence could pressure Aecom’s revenue at the back-end of its 2029 plan. Baird cites valuation for downgrade, not the company’s earnings potential, for the downgrade.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ACM:
- Aecom price target lowered to $135 from $155 at Argus
- Aecom price target lowered to $139 from $142 at RBC Capital
- Aecom price target lowered to $135 from $145 at Barclays
- Aecom’s AI Integration Challenges: Navigating Risks and Regulatory Hurdles
- Aecom price target lowered to $148 from $153 at UBS