Zacks Investment Research upgraded shares of FTI Consulting Inc. (FCN) from UNDERPERFORM to NEUTRAL on August 13, 2012, with a target price of $26.00.
FTI Consulting's outlook for 2012 remains cautious due to uncertainties in the current market along with a slow capital market in Europe and weak client spending. Additionally, increased competition and currency risks further add to the economic turmoil. However, FTI's second quarter 2012 earnings were above the Zacks Consensus Estimates, driven by growth across Corporate Finance/Restructuring and Economics Consulting segments. Moreover, Forensic and Litigation Consulting business is also expected to improve in the second half of 2012. We believe that the company's strategy to expand through acquisitions, particularly in the international markets, remains one of its key growth drivers. Furthermore, management's plan to drive profitability by restructuring the company's business is likely to be favorable. Hence, we upgrade the stock from Underperform to Neutral.
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