Zacks upgraded shares of Navigant Consulting (NYSE: NCI) from a neutral rating to an outperform rating in a report issued on Thursday. They currently have $15.00 target price on the stock.

Zacks’ analyst wrote, “We are changing our long-term recommendation for Navigant from Neutral to Outperform based on rising earnings estimates driven by strong fourth quarter and full year 2012 results. The company’s strategy of inorganic expansion is likely to further propel its growth momentum. Navigant is also restructuring its business in order to better align the capacity with demand and has diligently reduced its operating expenses to improve profitability. Share repurchase activity also remains to be another positive for the stock. However, increased currency fluctuations, stiff competition, and regulatory stringencies are likely to peg back its profitability to some extent. “

Navigant Consulting opened at 12.75 on Thursday. Navigant Consulting has a 52-week low of $9.47 and a 52-week high of $14.62. The stock’s 50-day moving average is currently $11.78. The company has a market cap of $648.0 million and a price-to-earnings ratio of 14.17.

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