Amentum Holdings Inc. (AMTM) PT Lowered to $28 at RBC Capital

RBC Capital analyst Ken Herbert lowered the price target on Amentum Holdings Inc. (NYSE: AMTM) to $28.00 (from $35.00) while maintaining a Sector Perform rating.

The analyst commented: "Bookings and FCF were positive, focus remains on de-leveraging and execution; Amentum Holdings (AMTM) reported fiscal 2Q26 adj. EPS of $0.60, ahead of consensus $0.57. Revenues were flat YoY with headwinds from divestitures (~1.5%) and JV transition (~2%), with underlying revenues up ~3% YoY. The 1.2x B2B and strong FCF were positives, with deleveraging the main focus for investors (3.2x net leverage exiting F2Q26). While we believe the gov't services de-rating reflects FY27 budget uncertainty amid upcoming midterms, we believe AMTM's focus on growth markets and the strong bookings outlook were encouraging. Maintain SP, PT to $28."

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