CHICAGO, Sept. 17, 2012 /PRNewswire/ -- Zacks Equity Research highlights CRA International (CRAI) as the Bear of the Day.
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Full analysis of CRA International (CRAI) is available at http://at.zacks.com/?id=10480.
Here is a synopsis of Charles River Associates (NASDAQ: CRAI):
Bear of the Day - CRA International (CRAI):
Following the footsteps of the previous-quarter results, Charles River Associates (NASDAQ: CRAI) second quarter 2012 results were also discouraging. CRA International earnings lagged the Zacks Consensus Estimate significantly, owing to the weak performance of Charles River Associates management consulting business, partially offset by healthy litigation business.
As a result of the soft consulting business, all key-line items experienced a downside. The Charles River Associates management consulting business suffered because of poor performance of the Chemicals practice and Middle East operations. Although Charles River Associates management is undertaking restructuring actions to improve profitability and boost performance, we remain concerned about the ongoing economic uncertainty in Europe, cautious spending by clients, stiff competition and currency fluctuations.
Hence, we reiterate our Underperform stance on - CRA International (CRAI). Our six-month target price of $14.00 per share for Charles River Associates equates to about 16.5x our earnings estimate for 2012. With no dividend to supplement, this target price implies a negative return of 11.7% over that period.
Get the full analysis of Charles River Associates (NASDAQ: CRAI) by going to http://at.zacks.com/?id=10480.
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