KeyBanc Downgrades Tetra Tech (TTEK) to Sector Weight
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KeyBanc downgraded Tetra Tech (NASDAQ: TTEK) from Overweight to Sector Weight with a price target of $40. The downgrade was tied to valuation.
"We gauge current trading levels now fully reflect TTEK’s return to consistent earnings performance and visibility, as well as recognition of momentum in its core end markets. We continue to view TTEK as one of our higher quality E&C names in terms of lower execution risk, strong free cash flow and its relatively higher mix from defensive end markets," said analyst Tahira Afzal.
Shares of Tetra Tech closed at $39.65 yesterday.
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