Roth Capital analyst Jeff Martin raised the firm’s price target on Bowman Consulting (BWMN) to $50 from $45 and keeps a Buy rating on the shares after the company’s acquisition of RPT Alliance. The acquisition enhances Bowman’s growth and margin profile while enhancing its capabilities in Power & Utilities, the analyst tells investors in a research note. The firm’s higher assumed valuation is also a “justifiable premium” to the peer group given the superior growth profile, Roth added.
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