ABM Industries inches up after Truist upgrades to 'buy', lifts PT

ReutersJul 2, 2025 1:49 PM

Shares of integrated facility, infrastructure and mobility solutions provider ABM Industries ABM.N up 1% at $48 in early trade

Truist Securities upgrades shares to 'buy' from 'hold', and lifts PT to $58 from $55, a premium of 22% to the stock's last close

Says co's underperformance could reverse as free cash flow conversion normalizes and U.S. office vacancy rates stabilize, making the current discounted valuation attractive despite long-term growth concerns

Brokerage expects growth to pick up in office segment during the second-half of the year as vacancy issues improve

Also optimistic that better leasing activity could help boost overall co's performance

Average rating of 7 brokerages equivalent to 'hold'; median PT is $56- data compiled by LSEG

Including session's moves, shares are down 5.9% YTD

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