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Jacobs price target raised to $157 from $155 at KeyBanc

KeyBanc analyst Sangita Jain raised the firm’s price target on Jacobs (J) to $157 from $155 and keeps an Overweight rating on the shares. The firm notes the company reported a robust Q3, and is on track to deliver 100 bps of margin expansion, toward the long-term targets set at its analyst day. KeyBanc believes with a realigned portfolio, Jacobs is on the path to achieving its stated objective of 50-80 bps of annual margin expansion with a goal of reaching an adjusted EBITDA margin of 16%-plus by 2029.

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