Standpoint Research Starts AECOM Technology (ACM) at Buy

Standpoint Research initiates coverage on AECOM Technology (NYSE: ACM) with a Buy rating and $36 price target.

The firm states, "AECOM is the one new recommendation generated by our Q2 Industrials sector report from last week (that covered 300 names). AECOM ranked # 24 out of 300 according to our 155-variable computer model and passes fundamental and subjective overlays. This is actually a name we were looking at in recent weeks. The company does have exposure to Libya and withdrew all employees from there. That being said, the market did over-react to what will not amount to more than a $0.10/share charge for the quarter. Looking out to 2012-2013 we see $3.00 in EPS potential here and would attach a 12X multiple to that in order to arrive at our price target – that would be an all-time high for ACM."

For more ratings news on AECOM Technology click here and for the rating history of AECOM Technology click here.

Shares of AECOM Technology closed at $26.94 yesterday.

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