Pain is Good for FTI Consulting
Originally Published In the News February 28, 2008 7:30 PM
FTI Consulting’s (FCN-NYSE) stock is one of the best counter-cyclical plays on Wall Street, and you can be sure they will be busy over the next few years as we clean up the mess. In fact, their numbers are already sizzling, and there is likely more to come:
FTI Consulting Inc reported a 77 percent increase in quarterly profit, which also beat market expectations, and forecast a strong 2008 as the business advisory firm continues to benefit from the credit market turmoil.
Firms like FTI and Huron Consulting Group Inc (HURN-NASDAQ) are expected to gain from a crisis in the financial markets as a rise in the number of bankruptcies and litigations would lead to an increase in restructuring and financial advisory businesses.
Credit related engagements are driving demand in all the segments of FTI, JMP Securities analyst Kevane Wong said. Reuters
Yes, if you are bullish on bad credit markets, FTI Consulting is a go-to stock. Before you buy it you might want to comp it against Huron Consulting, which has a nice run before recently coming back to earth.
FTI Consulting Q4 profit beats Wall Street view
Reuters
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