Canaccord Genuity Maintains a 'Hold' on Tetra Tech (TTEK); Nice Quarter, But Shares Look Fairly Value

Canaccord Genuity maintains a 'Hold' on Tetra Tech (NASDAQ: TTEK) price target of $23.00.

Analyst, John Quealy, said, "Management execution continues to impress, although we find core concentration issues surrounding governmental customers (into ’13+) and performance of emerging market expansion key issues in the medium term. Maintain HOLD, as risk/reward looks balanced at current levels."

"Our estimates adjust slightly to reflect reported results. F2012 goes to $2.03B/$1.62 (from $2.05B/$1.62); F2013 estimates remain $2.14B/$1.85."

For an analyst ratings summary and ratings history on Tetra Tech click here. For more ratings news on Tetra Tech click here.

Shares of Tetra Tech closed at $23.42 yesterday, with a 52 week range of $17.31-$25.49.

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