Canaccord believes the pullback in ICF International shares over the last two weeks is an over reaction to a recent Supreme Court decision that eliminated a 40-year-old precedent called Chevron deference. Canaccord believes the decision does not materially impact ICF’s business because the impacted business is roughly 1-2% of total revenues and the decision will not automatically impact the existing set of regulations. Canaccord maintains its Buy rating and $187 price target on ICF International shares.
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