Aecom price target raised to $129 from $119 at Truist

Truist raised the firm’s price target on Aecom (ACM) to $129 from $119 and keeps a Buy rating on the shares after its Q4 earnings beat. Design backlog has reaccelerated in the quarter to up 5.2% after three consecutive quarters of moderating growth, with Americas up 6.4% and International up 2.5%, and Aecom has also noted that demand trends across all of its key markets remain strong, the analyst tells investors in a research note. Truist is also raising its FY25 EPS view and FY26 EPS view by 15c each to $5.10 and $5.60 respectively.