Oppenheimer Lifts PT on Exlservice (EXLS) to $34

March 4, 2013 8:53 AM EST Send to a Friend
Get Alerts EXLS Hot Sheet
Price: $28.44 +1.64%

Rating Summary:
    2 Buy, 6 Hold, 1 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 9 | Down: 10 | New: 35
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Oppenheimer raised its price target on Outperform-rated Exlservice (NASDAQ: EXLS) from $32 to $34 following better than expected Dec-quarter results and an upbeat Investor Day in New York.

The firm notes management's tone was positive on: 1) multi-year revenue CAGR of 20-30% through organic/inorganic growth; 2) growth opportunities in Insurance and Healthcare verticals; 3) strong momentum in Analytics; 4) improving client metrics both in number and deal-sizes; 5) continued expansion of its global footprint in the Philippines.

"With strong recent results, healthy pipeline, rising offshore penetration, and the secular growth nature of the BPO industry we reiterate our Outperform on EXLS and raise our PT to $34 from $32 which equates to 19x FY13E and 16x FY14E," the analyst said.

NOTE: Shares of EXLS were downgraded today.

For an analyst ratings summary and ratings history on Exlservice click here. For more ratings news on Exlservice click here.

Shares of Exlservice closed at $31.81 yesterday.


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