Aecom price target raised to $118 from $117 at BofA

BofA analyst Michael Feniger raised the firm’s price target on Aecom (ACM) to $118 from $117 and keeps a Buy rating on the shares after the company reported a “solid” fiscal Q1. The firm, which slightly raised estimates post results, sees Aecom as a beneficiary of infrastructure tailwinds, rising margin profile, and strong backlog visibility, the analyst tells investors.