Maxim upgrades ABM to Buy on exposure to expanding supply chain

As previously reported, Maxim upgraded ABM (ABM) to Buy from Hold with a $50 price target The firm is positive on the company’s exposure to an expanding U.S. supply chain encompassing chip factories, data centers, distribution centers, industrial equipment and microgrids, the analyst tells investors in a research note. After ending a lower-margin UK transportation infrastructure project and adding semiconductor facility work in Ireland, ABM revenue is now expected to be over 90% from US projects, the firm added.