01:20 PM EDT, 05/07/2024 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We leave our 12-month target at $165 on a forward P/E of 18.2x our FY 25 (Sep.) EPS estimate, in line with its three-year historical average due to positive margin expectations. We trim our FY 24 EPS forecast to $8.10 from $8.20 and keep FY 25's at $9.07. J printed Mar-Q revenue of $4.27B vs. the consensus prediction of $4.30B, and adj-EPS of $1.91 beat by $0.05. Strength in P&PS (+8% Y/Y) drove the increase in sales (5%), benefiting from increased demand for critical infrastructure and sustainability. We anticipate revenue of $17.62B (+8%) in FY 24, reflecting favorable business trends, strong win rates, and a large backlog of $29.4B (vs. $29.0B). A more modest growth of 1% to $17.79B is expected in FY 25 given the planned separation transaction of its CMS and Cyber & Intelligence businesses (scheduled to close Sep-Q FY 24). Adj-EBITDA margin widened 70 bps to 11.3% in Mar-Q. We suspect margins of 12.5% in FY 24 and 13.5% in FY 25 vs. 10.8% in FY 23 as J streamlines its operations to become more profitable.