Aecom price target lowered to $127 from $148 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Aecom (ACM) to $127 from $148 and keeps a Buy rating on the shares. Ahead of Q4 earnings, the outlook for Engineering & Construction remains selective, with valuations near highs, mixed price/cost signals, and estimates generally in line to slightly below consensus, the analyst tells investors in a research note. Preference is given to companies with durable margin improvements and upside to expectations, while caution centers on peak-valuation names reliant on future bookings, amid ongoing debate around AI’s impact, data center spending, and labor-driven margins, Goldman says.