Tetra Tech Analysts Boost Their Forecasts After Upbeat Results
Portfolio Pulse from Avi Kapoor
Tetra Tech, Inc. (NASDAQ:TTEK) reported Q2 financial results surpassing expectations with adjusted earnings of $1.42 per share against estimates of $1.29 and sales of $1.05 billion versus $1.03 billion expected. The company raised its full-year guidance for net revenue and earnings, forecasting a 22% EPS growth for fiscal 2024. Following the announcement, Tetra Tech's shares increased by 2% to $207.99. Analysts from Maxim Group, RBC Capital, and Keybanc raised their price targets on Tetra Tech, reflecting optimism in the company's financial health and future prospects.
May 03, 2024 | 6:10 pm
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Tetra Tech reported higher-than-expected Q2 earnings and sales, leading to an increase in its stock price and raised price targets by analysts.
The positive earnings report and raised guidance indicate strong financial health and growth prospects for Tetra Tech, which typically results in increased investor confidence and a positive impact on the stock price. The subsequent analyst upgrades further validate the company's strong performance and outlook, likely contributing to sustained investor interest and potentially higher stock prices in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100