Morningstar's Small-Cap Superstars featured Navigant Consulting (a firm that specializes in litigation) as a pick in early October 2007, when the stock was trading below $14. The shares are now above $17 and Senior Stock Analyst Brett Horn remains bullish on the company's stock, with a $24 fair value estimate. 

Navigant recently reported second-quarter results. Overall, Horn believes the company delivered a solid performance, led by strength in its litigation business, which is capitalizing on the subprime fiasco. On the other hand, its business consulting segment did not fare as well, reflecting softness in discretionary projects for the financial industry. Horn noted that consulting business is lumpy and event-driven and results can swing markedly from quarter to quarter. He says that a weakening economy will hurt some aspects of Navigant's business and help others and will most likely result in something close to a wash. He remains comfortable with his projections

To read Horn's note on Navigant's second quarter results, click on the link below:

http://quicktake.morningstar.com/stocknet/san.aspx?id=247697