Citi cuts PTs of US engineering contractors ahead of first-quarter results
Citi Research cuts PTs of U.S. engineering & construction firms ahead of their Q1 results
Company | New PT | Old PT | Analyst median - LSEG-compiled data |
AECOM ACM.N | $116 | $127 | $120.50 |
Fluor Corp FLR.N | $46 | $55 | $45 |
Jacobs Solutions J.N | $151 | $161 | $150 |
KBR Inc KBR.N | $69 | $77 | $69 |
MasTec MTZ.N | $152 | $167 | $158 |
Quanta Services PWR.N | $342 | $366 | $334 |
"With a more uncertain macro and increased concern over federal funding disbursement emerging, we expect a modestly more cautious tone from management teams," Citi said
However, brokerage expects most companies to maintain their 2025 guidance given the longer-cycle nature of project work or backlog
Citi says U.S. tariff policy and economic uncertainty could increase input costs for customers, causing them to re-evaluate projects/capex decisions with cos
As of last close, the S&P 500 Industrials sector .SPLRCI had fallen 2.1% YTD
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