AECOM: Citigroup cuts target price to $84 from $97

Citigroup analyst Andrew Kaplowitz has lowered the 12-month price target for AECOM (ACM) to $84 from $97, while maintaining a "Buy" rating. This adjustment reflects a more cautious outlook on the firm’s near-term performance, despite ongoing positive trends in key markets such as infrastructure, transportation, and energy. AECOM, a global leader in engineering, design, and construction services, reported $13.3 billion in sales and $701 million in adjusted operating income in fiscal 2021. The company operates in over 150 countries and employs approximately 51,000 professionals. While the price target reduction signals a tempered view, the firm’s long-term growth potential remains supported by strong demand in its core sectors. Investors are advised to monitor upcoming earnings reports and industry commentary for further clarity on AECOM’s trajectory.