Zacks Investment Research downgraded shares of FTI Consulting Inc. (FCN) from OUTPERFORM to NEUTRAL on February 10, 2015, with a target price of $39.00.
FTI Consulting reported strong third-quarter 2014 results as adjusted earnings of $0.63 per share beat the Zacks Consensus Estimate of $0.41, on the back of broad-based top line growth. A focused 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 business and enhancing shareholders' value through share repurchase are likely to be favorable. However, increased competition and pricing pressure due to market volatility undermine its growth prospects to some extent. As such, we are changing our long-term recommendation on the stock from Outperform to Neutral as we anticipate it perform in line with the broader market.
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