AECOM
ACM: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$12.00 | Mmkw | Mbxkghyvh |
We Expect Aecom to Capitalize on Growing Infrastructure Spending
Business Strategy and Outlook
In recent years, Aecom has transformed its portfolio and focused on expanding its professional-services business. It exited several business lines including fixed-price combined-cycle gas power plant construction, at-risk oil and gas construction, and international at-risk construction projects. In January 2020, Aecom sold its management-services business. We view this transformation favorably, as we believe that the strategic shift has resulted in a less volatile and more profitable portfolio.