Canaccord Genuity Maintains a 'Buy' on ICF International (ICFI); Q3 Earnings Preview

Canaccord Genuity maintains a 'Buy' on ICF International (NASDAQ: ICFI) price target of $30.00.

Canaccord analyst, Eric Prouty, said, "We remain buyers of ICFI heading into the company’s Q3 earnings report. While concerns over federal budget tightening are likely to remain an overhang, we remain confident that ICF can continue to generate solid organic revenue growth in 2012 and beyond, aided in particular by strength in its commercial business."

"We estimate Q3 revenue/EPS of $215M/$0.44, which is slightly below the consensus forecast of $217M/$0.45...We anticipate management will reiterate 2011 financial guidance of $835M-850M in revenue and $1.69-1.77 in EPS. Our current 2011 estimates of $838M/$1.72 are at the lower end of the guidance range, and we wouldn’t be surprised to bump them up somewhat following the Q3 report."

For more ratings news on ICF International click here and for the rating history of ICF International click here.

Shares of ICF International closed at $21.76 yesterday.

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