UPDATE: Stifel Nicolaus Upgrades Tetra Tech to Buy

Stifel Nicolaus upgrades Tetra Tech

to Buy and establishes a $30 price target on shares based on strong growth outlook and low valuation. Stifel Nicolaus says, "Revenue mix trends appear favorable. Canadian natural resources and U.S. commercial work now account for 55% of total revenues vs. 38% just 3 years ago. These markets have higher growth profiles and generate higher profit margins than government work. ...Historically TTEK has been valued at 25x or higher forward EPS and at 13.5x-14x EV/EBITDA. Currently TTEK is valued at 15.5x forward EPS and 7.5x EV/EBITDA." TTEK closed at $25.13 a share on Monday.