Skip to main content

Market Overview

UPDATE: Jefferies Raises PT on ABM Industries Following Solid F2Q13 Results

Share:

In a report published Wednesday, Jefferies analyst Dan Dolev reiterated a Buy rating on ABM Industries (NYSE: ABM), and raised the price target from $28.00 to $29.00.

In the report, Jefferies noted, “F2Q13 was a solid quarter marked by: 1) strong organic growth, particularly in janitorial (+2.7%, above +2% for the first time since FY08), 2) a ~9% adj. EPS beat, 3) a bullish F2H13 outlook with tailwinds from an ‘improving economy', and 4) raised FY adj. EPS guidance from $1.35-$1.45 to $1.40-$1.50. All this helped drive the stock up +3.4% (+4.0% rel.). We are raising our CY14 estimates from $1.56 to $1.60 and our PT from $28 to $29.”

ABM Industries closed on Tuesday at $25.44.

Latest Ratings for ABM

DateFirmActionFromTo
Jun 2020KeyBancMaintainsOverweight
Jun 2020BairdMaintainsNeutral
May 2020Sidoti & Co.DowngradesBuyNeutral

View More Analyst Ratings for ABM
View the Latest Analyst Ratings

 

Related Articles (ABM)

View Comments and Join the Discussion!

Posted-In: Dan Dolev JefferiesAnalyst Color Price Target Analyst Ratings

Latest Ratings

StockFirmActionPT
GIKColliers SecuritiesInitiates Coverage On14.0
SANWLake StreetInitiates Coverage On6.0
LILAMorgan StanleyDowngrades15.0
BEJP MorganUpgrades36.0
NEXACredit SuisseUpgrades11.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com