Analyst Andrew Nicholas of William Blair reiterated a Buy rating on Exponent, retaining the price target of $66.89.
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Andrew Nicholas’s rating is based on Exponent’s strong first-quarter outperformance and the durability of its growth drivers. The company exceeded his expectations on net revenue, profitability, and earnings per share, while management maintained full-year guidance, reinforcing confidence in the outlook and justifying his unchanged $66.89 price target.
Andrew Nicholas has given his Buy rating due to a combination of robust demand across both reactive and proactive services and clear benefits from AI-related work. He highlights especially strong momentum in consumer electronics, diversified across health-related devices, AI-enabled products, and hardware, which, alongside secular tailwinds and a reduced revenue concentration, should help smooth out cyclical swings and support continued double-digit top-line growth.