Canaccord Genuity Sticks to Its Buy Rating for Tetra Tech (TTEK)


In a report released today, Robert Burleson from Canaccord Genuity maintained a Buy rating on Tetra Tech (NASDAQ: TTEK), with a price target of $73. The company’s shares opened today at $66.10, close to its 52-week high of $66.90.

Burleson wrote:

“We reiterate a BUY rating on TTEK following the CQ2/18 beat and EPS raise. While management’s outlook is positive across the board, we are particularly encouraged by an improving environment within the company’s Oil and Gas segment and believe that this could present an additional source of upside to fiscal ’18. We are increasing our price target from $60 to $73 and adjusting our estimates.”

According to TipRanks.com, Burleson is a 5-star analyst with an average return of 13.0% and a 59.8% success rate. Burleson covers the Consumer Goods sector, focusing on stocks such as IPG Photonics Corporation, Faro Technologies, and Nano Dimension.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tetra Tech with a $67 average price target, representing a 1.4% upside. In a report released today, Boenning & Scattergood also maintained a Buy rating on the stock with a $65 price target.

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Based on Tetra Tech’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $33.32 million. In comparison, last year the company had a net profit of $29.98 million.

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Tetra Tech, Inc. engages in the provision of consulting and engineering services. It operates through the following segments: Water, Environment and Infrastructure (WEI); Resource Management and Energy (RME); and Remediation and Construction Management (RCM).

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