UPDATE: Griffin Securities Color on Hackett Group Target Increase

Griffin Securities, which

on shares of The Hackett Group, Inc.

, is providing some color on the stock. “Though we are not raising our 2011 pro forma estimates, we believe our $0.33 estimate will be exceeded,” Griffin Securities writes. “Introducing preliminary $0.40 estimate for 2012. Pro forma 1Q 11 EPS of $0.07 (high-end of guidance) vs. $0.05 last year. “Organic revenues expanded 9% sequentially- 1Q '10 vs. 4Q '10. The flow of activity crawled forward in January only to meaningfully accelerate into February/March- outlook remains healthy for 2Q ‘11 and full year 2011.” Hackett Group closed Tuesday at $4.97.