Bullish indicating open at $55-$60, IPO prices at $37
Investing.com - RBC Capital raised its price target on Jacobs Engineering Group Inc. (NYSE:J) to $157.00 from $154.00 on Wednesday, while maintaining an Outperform rating on the stock. The new target represents potential upside from the current price of $146.75, with the stock trading near its 52-week high of $156.31. According to InvestingPro data, the company maintains a GOOD financial health score, though it currently trades at a relatively high P/E multiple of 35.5x.
The price target increase follows Jacobs Engineering’s latest earnings report, which showed adjusted EBIT and EPS results that exceeded consensus estimates. The company demonstrated net revenue growth in its People & Places (PA) segment and across all three end-markets in its Intelligent & Advanced Facilities (I&AF) division.
Jacobs Engineering has modestly revised the midpoint of its fiscal year 2025 adjusted EPS guidance higher, signaling increased confidence in its financial performance for the remainder of the year.
RBC Capital noted that Jacobs’ backlog has reached a new record level, which the firm believes positions the company favorably for the remainder of fiscal 2025 and beyond.
The $3 increase in RBC’s price target reflects the firm’s updated outlook based on Jacobs Engineering’s strong performance and improved guidance.
In other recent news, Jacobs Engineering Group Inc. reported strong financial results for the third quarter of fiscal year 2025. The company achieved adjusted earnings per share of $1.62, exceeding analysts’ expectations of $1.53. Although revenue forecasts were slightly missed, the robust earnings growth has been well-received by investors. Additionally, KeyBanc raised its price target for Jacobs Engineering to $157 from $155, maintaining an Overweight rating on the stock. This upgrade was attributed to the company’s "robust" fiscal third-quarter performance and progress toward long-term margin expansion targets. These recent developments underscore Jacobs Engineering’s strategic initiatives and financial health.
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