Janney Montgomey Scott Upgrades Tetra Tech (TTEK) to Buy; Positive News Flow Catalyst
TTEK Hot Sheet
Rating Summary:9 Buy, 3 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Janney Montgomey Scott upgrades Tetra Tech (Nasdaq: TTEK) to Buy. Price target $26.
Janney analyst says, "Tetra Tech's share price has languished since its Jan. announcement that FY 2010 earnings would be below expectations due to project delays. We thought the stock would settle into the mid-20s while investors awaited more positive news that would be a catalyst for recovery; however, it has settled closer to $20 and is oversold in our view. While a period in the penalty box is expected for a growth stock that stumbles, we think Tetra Tech is preparing to get back out on the ice. The fickle wind business is becoming more active, and recent design and consulting wins suggest that more substantial project work is in the pipeline. With a strong net in one-time gains cash position, Tetra Tech is continuing to work on acquisitions, including a potential new international platform. We believe the news flow will turn more positive in coming months and upgrade to BUY."
To see all the upgrades/downgrades on shares of TTEK, visit our Analyst Ratings page.
Tetra Tech, Inc. is a provider of consulting, engineering, program management, construction and technical services focusing on resource management, infrastructure and the environment.
Janney analyst says, "Tetra Tech's share price has languished since its Jan. announcement that FY 2010 earnings would be below expectations due to project delays. We thought the stock would settle into the mid-20s while investors awaited more positive news that would be a catalyst for recovery; however, it has settled closer to $20 and is oversold in our view. While a period in the penalty box is expected for a growth stock that stumbles, we think Tetra Tech is preparing to get back out on the ice. The fickle wind business is becoming more active, and recent design and consulting wins suggest that more substantial project work is in the pipeline. With a strong net in one-time gains cash position, Tetra Tech is continuing to work on acquisitions, including a potential new international platform. We believe the news flow will turn more positive in coming months and upgrade to BUY."
To see all the upgrades/downgrades on shares of TTEK, visit our Analyst Ratings page.
Tetra Tech, Inc. is a provider of consulting, engineering, program management, construction and technical services focusing on resource management, infrastructure and the environment.
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