Shares of Tetra Tech (TTEK) soared 10.82% in pre-market trading on Thursday, following a series of positive analyst actions. The environmental and engineering consulting services company saw its stock price climb on the back of upgrades and reaffirmed buy ratings from multiple research firms.
William Blair analyst Tim Mulrooney reiterated a Buy rating on Tetra Tech, citing the company's strong fourth-quarter performance and growth prospects. This bullish stance was further reinforced by Northcoast Research, which upgraded Tetra Tech from Neutral to Buy, setting a price target of $38. The upgrade suggests increased confidence in the company's future performance and potential for stock appreciation.
While Baird maintained a Neutral rating on Tetra Tech, the overall analyst sentiment remains positive. According to FactSet, the average rating for Tetra Tech is overweight, with a mean price target of $41.33. This consensus view, combined with the recent upgrades, appears to be driving investor optimism and contributing to the significant pre-market rally in Tetra Tech's stock price.