Canaccord Genuity Analyst Bullish on Tetra Tech, Inc. (TTEK) Following Recent Developments
Analyst Robert Burleson feels confident about Tetra Tech, Inc.’s (NASDAQ:TTEK) next earnings report following recent award announcements and demand improvement towards the end of the year.
Tetra received a $32M US AID contract and a $45M Army and National Contract over the past few weeks, which will lead to an increase in project opportunities. The analyst also expects a pickup in federal award activity to stimulate demand towards the end of this fiscal year. These developments, as well as cost efficiencies following its acquisition of Coffey, should help Tetra deliver an increase in revenue.
Burleson reiterates his Buy rating with a price target of $37, marking an increase of 21% from current levels.
According to TipRanks, the analyst has a success rate of 46% with an average return of 0.4% per recommendation.