ABM - Struggling Office Market Can Curb ABM's B&I Segment Growth: Analyst | Benzinga
Truist Securities analyst Jasper Bibb initiated ABM Industries Inc (NYSE: ABM) with a Hold rating with a price target of $43.
The analyst sees ABM's office exposure (~40% of revenue) as the primary concern, hitting B&I segment growth, and expects the protracted downturn as a risk to FY25 estimates.
Bibb says achieving the consensus estimate of ~9% EPS growth in FY25 would require the office market trends to stabilize over the next 12 months.
The analyst estimates ABM to generate adj. ...