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AECOM (NYSE:ACM) ranks among the undervalued infrastructure stocks to buy now. The stock looks cheap on the surface, but the debate right now is whether that discount is an opportunity or a trap.

On May 19, 2026, Barclays lowered its price target on AECOM (NYSE:ACM) to $90 from $110, keeping an “Equal Weight” rating after the fiscal second-quarter report. The firm acknowledged the company’s record of strong multi-year growth and free cash flow, but said those qualities were being overshadowed by an asset-light re-rating and a lack of near-term catalysts. Barclays described the stock as optically cheap but without a clear re-rating path.

Against that backdrop, AECOM (NYSE:ACM) has kept moving.

On June 10, 2026, AECOM (NYSE:ACM) entered into a new $500 million revolving credit agreement with a lender syndicate led by Bank of America, maturing June 9, 2028, with no borrowings outstanding at inception. The facility is secured by assets of AECOM and certain subsidiaries, carries leverage-based pricing and unused commitment fees, and includes a maximum consolidated leverage ratio covenant of 4.0 to 1, reinforcing the company’s liquidity while imposing standard financial discipline.

Then on June 12, 2026, AECOM (NYSE:ACM) appointed David Rottblatt as Senior Vice President and Director of Strategic Private Sector Client Growth in its Aviation Market Sector. Based in California, Rottblatt will focus on expanding AECOM’s reach across private sector aviation clients and emerging aviation markets. He joins from Supernal, where he served as Chief Operating Officer, and brings more than two decades of leadership experience, including 15 years in the global aviation industry.

AECOM (NYSE:ACM) delivers expert infrastructure consulting services to commercial and government organizations. Its services portfolio includes advising and consultation, engineering solutions, construction, and management services. It provides these services across various segments, including transportation, water, and energy. It is also involved in developing and investing in real estate ventures.

While we acknowledge the potential of ACM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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