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Aecom price target raised to $103 from $100 at Baird

Baird raised the firm’s price target on Aecom to $103 from $100 and keeps an Outperform rating on the shares. The firm noted its 1Q earnings came in ahead of expectations led by strength of the company’s International margins. Its contracted design backlog remains the best proxy for future growth and increased +17% organically YOY, which Baird believes is most important.

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