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UPDATE: Jefferies Reiterates ABM Industries at Buy on F2Q13 Results


In report published Monday, Jefferies analyst Dan Dolev reiterated ABM Industries (NYSE: ABM) at Buy and maintained a price target of $28.00.

In the report, Jefferies noted, “Overall, F2Q13 was solid and marked by a 9% EPS beat and raised guidance. Noteworthy highlights are: 1) strong organic growth, particularly in janitorial (+2.7%, above +2% for the first time since FY08), 2) ~9% adj. EPS ($0.36) beat vs. consensus ($0.33), 3) a bullish tone citing an “improving economy,” and 4) raised FY adj. EPS guidance from $1.35-$1.45 to $1.40-$1.50.”

ABM Industries closed Monday at $24.60.


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