Wedbush Starts Virtusa (VRTU) at Neutral

September 9, 2016 7:26 AM EDT
Get Alerts VRTU Hot Sheet
Price: $26.56 -1.08%

Rating Summary:
    11 Buy, 3 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 1 | Down: 2 | New: 3
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Wedbush initiates coverage on Virtusa (NASDAQ: VRTU) with a Neutral rating and a price target of $29.00.

Analyst Moshe Katri commented, "We are initiating coverage on Virtusa with a NEUTRAL and $29 price target. While we positively view the company's consistently impressive/strong results, its unique model, extensive SMAC-related expertise, mission-critical work and high relevance to clients, integration risk associated with the acquisition of India-based Polaris combined with expected near-term dilution, keeps us on the sidelines for now. Assuming Polaris gets integrated effectively, we believe Virtusa is well positioned to generate low-teens top line growth and close to mid-teens adj. EPS growth. Virtusa's stock currently trades at 15.6X WS/consensus FY17E adj. EPS."

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

Shares of Virtusa closed at $25.91 yesterday.

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