Aecom price target raised to $129 from $120 at KeyBanc

KeyBanc raised the firm’s price target on Aecom (ACM) to $129 from $120 and keeps an Overweight rating on the shares as the firm applies a higher multiple to reflect the company’s diversified end market and geographic exposure. That said, KeyBanc does not see Aecom’s outlook at risk this year given its diversified end market and geographical exposure. The firm expects a reiteration of the long-term NSR growth outlook of 5%-8%, 20-30 bps margin expansion p.a., and double digits EPS growth.