RBC Capital raised the firm’s price target on Tetra Tech to $203 from $192 and keeps an Outperform rating on the shares. The analyst cites the company’s better-than-expected Q1 results and upward revision to FY24 guidance, also noting that investor focus will be on Tetra Tech’s execution against the FY24 guidance and RPS synergies/integration. The prospect of further M&A provides additional optionality, RBC added.
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