UPDATE: Deutsche Bank Raises PT to $41 on Huron Consulting Group on Conservative Guidance
Deutsche Bank maintained Huron Consulting Group (NASDAQ: HURN) with a Buy rating and raised the price target from $39.00 to $41.00.
Deutsche Bank commented, "We think 2013 guidance is conservative and are now at the high end. We are lowering our 1Q EPS (ex amort) from $0.49 to $0.38 (prior Street $0.54) and decreasing our '13E -6% from $2.77 to $2.61 (Street $2.67). Despite our lower EPS, our FCF per share actually rises for ‘13E from $3.30 to $3.35. We think HURN should trade on 12x-13x P/FCF, not its current <10x trailing."
Huron Consulting Group closed at $35.45 on Wednesday.
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