Zacks Investment Research upgraded shares of FTI Consulting Inc. (FCN) from NEUTRAL to OUTPERFORM on December 02, 2013, with a target price of $54.00.
FTI Consulting reported strong third quarter 2013 results as adjusted earnings and total revenue increased year over year. We believe that the company's strategy to expand through acquisitions, particularly in the international markets, remains one of its key growth drivers. In addition, management's plan to drive profitability by restructuring the company's business and enhancing shareholders' value through share repurchase is likely to be favorable. We are changing our long-term recommendation on the stock from Neutral to Outperform as we expect it to perform well above the broader market. However, increased competition and pricing pressures due to market volatility can undermine its growth to some extent.
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