William Blair analyst Tim Mulrooney has maintained their bullish stance on TTEK stock, giving a Buy rating on October 7.
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Tim Mulrooney has given his Buy rating due to a combination of factors that suggest a positive growth trajectory for Tetra Tech. Despite recent changes at the U.S. federal level, the company’s organic growth framework remains strong, with expectations of 6%-10% growth excluding certain areas like USAID and emergency response work. Additionally, Tetra Tech is on track to meet its ambitious 2030 net revenue target of $8.5 billion, even after accounting for a $500 million USAID-related setback.
Mulrooney acknowledges the risks associated with federal budget cuts and delays, particularly in areas like USAID and offshore wind. However, he believes these risks are well understood by the market. He also highlights that some growth opportunities over the next five years may be underestimated, providing further upside potential. The analysis includes considerations of the company’s backlog, mergers and acquisitions, and preliminary thoughts for fiscal 2026, all contributing to the Buy rating.
In another report released on October 7, National Bank also initiated coverage with a Buy rating on the stock with a $41.00 price target.