Tetra Tech price target lowered to $45 from $49 at KeyBanc

KeyBanc analyst Sangita Jain lowered the firm’s price target on Tetra Tech (TTEK) to $45 from $49 to reflect a lower multiple, while keeping an Overweight rating on the shares. The firm appreciates management taking a low-risk approach to the uncertainty around the unprecedented funding pause and views the recent selloff as a unique opportunity to own a high-quality name trading 4-turns below its 5-year average.