Amentum (AMTM, Financial), a company providing services for government bodies like national security, defense, healthcare, and engineering, just received an upgrade from Raymond James' analyst Brian Gesuale.
Wealth management company Raymond James just covered Amentum Holdings Inc with an Outperform rating with price target of $30 per share for Amentum. Amentum saw an 8.657% increase in its stock price on Thursday following the coverage.
Amentum is known for strong position in its market that helps it to get more strategic partnerships, and significant contract wins:
Contract Wins: Last month Amentum won a $490 million contract to modernize the Navy's aircraft fleet and $256 million contract to support NASA's space exploration projects.
Partnerships: In November, Amentum formed a partnership with Fermi National Accelerator Laboratory (Fermilab) to manage and operate the laboratory altogether with a consortium that consists of the University of Chicago and Universities Research Association and Longenecker & Associates. The contract rewarded a maximum value of $5 billion for 5 years operation with possible extensions up to 20 years.
Market Inclusion: Amentum was officially included in the S&P 500 index in October. This inclusion leads to more investments coming from index funds and eventually contributed to price increase.
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