UPDATE: Stifel Initiates Coverage on FTI Consulting with Hold Rating on Fair Valuation

In a report published Thursday, Stifel analyst Robert Craig initiated coverage on

with a Hold rating. In the report, Stifel noted, “We are initiating coverage of FTI Consulting, Inc. (FCN) with a Hold rating on the shares. Though generally benefitting from a gradually improving economic environment, certain portions of the business are counter-cyclical, thus we believe current valuations adequately discount intermediate-term growth prospects. Based on our peer group and relative P/E valuation methodology, we believe a fair 12-month valuation for the shares would be in the mid $40 range, thus our initial rating is Hold.” FTI Consulting closed on Wednesday at $45.48.