ICF International Receives a New Multi-Year Large-Scale Residential Contract Worth $40 Million

ICF International, Inc. (NYSE:ICFI) is one of the 14 Best Small Cap Stocks to Buy Right Now. On August 25, ICF International, Inc. (NYSE:ICFI) received a new, multi-year contract worth $40 million to implement large-scale residential energy programs.

ICF International will implement large-scale residential energy programs across six Southern California counties. In collaboration with local community organizations, ICF will help the counties integrate high-impact, no-cost energy and electrification upgrades. This upgrade will help thousands of households improve indoor air quality and reduce energy bills.

“Communities across the country are experiencing a tension between reliable power and affordability. We’re proud to couple three decades of energy program experience with the latest technology to help Southern California households have more reliable and affordable energy,” said Anne Choate, ICF executive vice president for energy, environment, and infrastructure.

ICF International will also install advanced digital twin technology to simulate, monitor, and analyze grid impact in a virtual environment before deployment. A few weeks prior to the company’s recent contract announcement, on August 11, Barrington increased its price target on ICFI from $102 to $107, keeping its Outperform rating on the stock. Kevin Steinke from Barrington remains optimistic on ICF International as the company continues to gain revenue from commercial energy clients, driven by robust demand for energy efficiency programs.

As of September 5, ICF International, Inc.’s (NYSE:ICFI) average price target of $98.50, based on analysts’ estimates, implies an upside of approximately 3.46% from current levels.

ICF International, Inc. (NYSE:ICFI) provides management, technology, and policy consulting and implementation services to government and commercial clients.

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Disclosure: None. This article is originally published at Insider Monkey.