Jefferies Comments On ICF International Multiple Expansion

According to Jefferies, ICF International ICFI is seeing steady bookings. Jefferies said that it believes the ICFI story is setting up nicely for 2011 with a steady 1.1x book:bill in Q1, ramping revenue in higher margin commercial business, and EPS compares made easier by lapping a dilutive secondary a year ago. “These factors should lead to double digit revenue growth, modest margin gains and much faster EPS growth than we saw last year, all of which should drive some multiple expansion.” ICF International closed yesterday at $23.86.