KeyBanc raised the firm’s price target on Tetra Tech (TTEK) to $43 from $41 and keeps an Overweight rating on the shares. The firm notes the company reported better than expected Q3 driven by strong operating margin expansion as the dilutive USAID exits the system. Despite a tough Federal contracting environment filled with uncertainties, Tetra Tech continues to deliver on above expectation margins and free cash flow, and is making it look easy, KeyBanc adds.
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