UPDATE: Jefferies Initiates Coverage On ABM Industries on Expected Realignment Benefits - ABM Indus (NYSE:ABM)

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In a report published on Wednesday, Jefferies analyst Dan Dolev initiated coverage on

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ABM Industries

(NYSE: ABM) with a Rating of Buy and a price target of $28. In the report, Jefferies noted, "Over the next 12-24 months we expect rising healthcare costs to boost roll-ups with vertical expansion and lower commercial vacancy rates to drive growth. Longer-term, ABM's transition into an integrated facility solutions provider will help it grow share in the $110-120bn US building services market." ABM Industries closed on Wednesday at $23.90.