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Fly News Breaks for May 31, 2018
ICFI
May 31, 2018 | 05:23 EDT
Loop Capital analyst Joseph Vafi raised his price target for ICF International to $79 citing increased confidence around disaster relief becoming a catalyst for the shares. The Department of Housing and Urban Development is expected to approve near June 22 the Texas General Land Office's $5B disaster recovery action plan to help rebuild low and middle income housing in affected Hurricane Harvey areas, Vafi tells investors in a research note. Funds will be allocated via community development block grants, a federal government program that ICF has been instrumental in designing and updating for HUD, the analyst adds. He expects "material contract activity" to emerge for ICF during the months of July and August and keeps a Buy rating on the shares.
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