Roth expects ‘sizeable’ increase in Bowman revenue outlook

Roth Capital analyst Jeff Martin reiterates a Buy rating on Bowman Consulting (BWMN) with a $50 price target after the company disclosed a $146.7M contract amendment with a U.S. government agency. Through a publicly-available government website, Roth found Bowman is the prime contractor on the $177.7M contract, with a 36-month projected timeline. The firm found rhw contracting department is the Department of Homeland Security, with U.S. Customs and Border Protection as the contracting sub-tier. Roth anticipates the company’s Q1 earnings guidance update will bring a “sizable” increase in both its backlog and organic net revenue growth.