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Fly News Breaks for October 23, 2018
TTEK
Oct 23, 2018 | 08:55 EDT
Maxim analyst Tate Sullivan initiated Tetra Tech with a Buy rating and a price target of $87, saying the growth in the capital expenditures of the company's customers could produce FY18-FY20 annualized EPS growth in the mid teens. The analyst further cites the incremental damage prevention consulting project sales coming from "more frequent storms and ensuing flooding". Sullivan also sees the recent decline in the company's backlog as temporary and driven by the timing of the projects awarded by the U.S. government.
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