William Blair analyst Tim Mulrooney has maintained their bullish stance on TTEK stock, giving a Buy rating on July 19.
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Tim Mulrooney has given his Buy rating due to a combination of factors that highlight Tetra Tech’s strong performance and potential for future growth. The company has demonstrated a robust bottom-line performance, with an increase in full-year adjusted EPS guidance, primarily driven by third-quarter outperformance. Despite challenges in the commercial and international sectors, Tetra Tech’s federal business has shown resilience, growing by 8%, and the core state and local sectors have exhibited even stronger growth at 18%.
While there are concerns about softening trends in non-federal sectors and flat backlog growth, the upcoming fiscal fourth quarter, a critical period for federal contract awards, could provide further opportunities for growth. Although short-term fluctuations are expected as investors await fiscal 2026 guidance, Tetra Tech is well-positioned to benefit from long-term structural growth trends in water and environmental sectors, supporting a positive outlook for the company’s future performance.
In another report released on July 19, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a $42.00 price target.