Aecom initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of Aecom (ACM) with a Buy rating and $130 price target Since 2020, Aecom has de-risked its portfolio, divesting self-perform at-risk construction and narrowing its focus towards areas of technical expertise and competitive differentiation, the analyst tells investors in a research note. The firm added that it sees a high-graded portfolio with accelerating win rates on more complex projects, limited fixed-price risk, and an expanding addressable market.