Needham & Company Reiterates a 'Buy' on Syntel, Inc. (SYNT); Raising Numbers After Meeting W/Mgmt
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Price: $66.54 +0.30%
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Rating Summary:
4 Buy, 7 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 19 | Down: 35 | New: 12
Trade SYNT Now!
Needham & Company reiterates a 'Buy' on Syntel, Inc. (NASDAQ: SYNT) price target of $70.00.
Analyst, Mayank Tandon, said, "We hosted SYNT's head of investor relations, Zaineb Bokhari, for a day of investor meetings in Minneapolis. We came away comfortable that the business remains on solid ground and that SYNT's relatively low exposure to discretionary spending and Europe positions it to outperform its peers. However, based on the renewed economic fears in the US and comments from SYNT’s peers about continued sluggishness in discretionary spending, we prefer to be more conservative and are trimming our FY12 revenue estimate to the low end of guidance. At the same time, we are raising our EPS estimate to close to the high end of guidance, mainly to reflect the recent weakness in the rupee against the US dollar."
FY12 EPS estimate bumped from $3.45 to $3.63.
For an analyst ratings summary and ratings history on Syntel, Inc. click here. For more ratings news on Syntel, Inc. click here.
Shares of Syntel, Inc. closed at $55.19 yesterday, with a 52 week range of $38.10-$63.48.
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Analyst, Mayank Tandon, said, "We hosted SYNT's head of investor relations, Zaineb Bokhari, for a day of investor meetings in Minneapolis. We came away comfortable that the business remains on solid ground and that SYNT's relatively low exposure to discretionary spending and Europe positions it to outperform its peers. However, based on the renewed economic fears in the US and comments from SYNT’s peers about continued sluggishness in discretionary spending, we prefer to be more conservative and are trimming our FY12 revenue estimate to the low end of guidance. At the same time, we are raising our EPS estimate to close to the high end of guidance, mainly to reflect the recent weakness in the rupee against the US dollar."
FY12 EPS estimate bumped from $3.45 to $3.63.
For an analyst ratings summary and ratings history on Syntel, Inc. click here. For more ratings news on Syntel, Inc. click here.
Shares of Syntel, Inc. closed at $55.19 yesterday, with a 52 week range of $38.10-$63.48.
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