Deutsche Bank Starts FTI Consulting (FCN) at Hold
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Deutsche Bank initiates coverage on FTI Consulting (NYSE: FCN) with a Hold rating and a price target of $44.
Analyst Kevin McVeigh said, "While we assume that there will be less rather than more macro uncertainty in the months to come, we like FCN due to its attractive countercyclical markets, client mix, and reasonable expectations, but feel it has outperformed too much YTD. FTI is the largest financial and legal consulting firm in the US with leadership positions in key disciplines including bankruptcy and restructuring, financial communication, and e-discovery technology. We think FTI is in an enviable position as it has a very impressive group of Senior MDs with minimal client or MD revenue concentration. We believe FTI is a very attractive platform for new hires and mid-level executives, meaning its employee turnover should be below the peer group."
Shares of FTI Consulting closed at $42.73 yesterday.
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