Hackett Group downgraded to Hold from Buy at Craig-Hallum

Craig-Hallum analyst George Sutton downgraded Hackett Group (HCKT) to Hold from Buy with a price target of $25, down from $30, amid an uncertain landscape ahead. Given that Q1 was guided lower based on the loss of a large Oracle (ORCL) contract, Q1 will be a tougher than anticipated start to the year, the firm notes. A challenged economy can create the ultimate large corporate need for Hackett’s services. However, the terrain may need to be more predictable before companies bring in the Hackett team for strategic help, Craig-Hallum argues.