Canaccord Genuity Sticks to Its Hold Rating for Aecom Technology Corp

By Ryan Adsit

Canaccord Genuity analyst Robert Burleson reiterated a Hold rating on Aecom Technology Corp (NYSE: ACM) on November 13 and set a price target of $36. The company’s shares closed yesterday at $34.21.

Burleson observed:

“We reiterate a HOLD rating and lower our EBITDA and EPS estimates to reflect the mid- point of guidance. While the quarter was solid in terms of organic growth and overall backlog, growth for MS backlog, despite being up ~50%, is well below the 2x target referenced by management entering this year. On a positive note, the share buyback appears to be incremental to target model assumptions, which we expect management to revisit during its December 12 analyst day.”

According to, Burleson is a 5-star analyst with an average return of 13.9% and a 60.2% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as Advanced Micro Devices, Integrated Device Tech, and Mitel Networks Corp.

Currently, the analyst consensus on Aecom Technology Corp is Moderate Buy and the average price target is $39.60, representing a 15.8% upside.

In a report released yesterday, D.A. Davidson also maintained a Hold rating on the stock with a $39 price target.

The company has a one-year high of $40.72 and a one-year low of $30.15. Currently, Aecom Technology Corp has an average volume of 723.4K.

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AECOM engages in the design, build, finance, and operation of infrastructure assets for governments, businesses and organizations. It operates through the following segments: Design and Consulting Services, Construction Services, and Management Services.