Global Hunter Securities Starts Tetra Tech (TTEK) at Accumulate

Global Hunter Securities initiates coverage on Tetra Tech (NASDAQ: TTEK) with a Accumulate rating and a price target of $29.00.

Analyst Michael Shlisky said, "Overall, the company appears to be making a healthy mix shift toward oil & gas markets, a high margin business with a strong tailwind on the back of increased expected pipeline construction activity and growth in shale production. The company is also rationalizing its RCM (construction) business on the back of volatile and lower margin results. Overall, we believe the company should at least trade at a multiple slightly above E&C peers, given its high end margin profile and low risk portfolio (two-thirds time-and materials or cost-plus), and the expected improvements to its mix going forward."

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 $24.96 yesterday.

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