UPDATE: Stifel Reiterates on Huron Consulting on Higher Expenses, Strong Demand
In a report published Thursday, Stifel analyst Robert Craig reiterated a Buy rating on Huron Consulting Group (NASDAQ: HURN), and raised the price target from $54.00 to $64.00.
In the report, Stifel noted, “3Q adjusted EPS was below our estimate due to bonus accruals from better-than plan performance, but demand remains strong in most segments and guidance was raised again modestly for the year. 2H comparisons were expected to be very challenging due to timing of contingency fees and guidance still implies 4Q EPS will be down yty, as should be anticipated despite a modest addition from the Blue Stone acquisition. However, given the drive for greater cost and operating efficiency and the general rate of change in key Practice areas (particularly HC and Education), we expect continued momentum in the overall business in 2014. To account for Blue Stone, we are increasing our 2014 estimate.”
Huron Consulting Group closed on Wednesday at $58.48.
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