UPDATE: Oppenheimer Downgrades Convergys (CVG) to Perform; Valuation Call
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Price: $18.22 --0%
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 21 | New: 19
Rating Summary:
0 Buy, 4 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 10 | Down: 21 | New: 19
Trade CVG Now!
(Updated - August 16, 2012 10:36 AM EDT)
Oppenheimer downgraded Convergys (NYSE: CVG) from Outperform to Perform.
Analyst, Manish Hemrajani, said, "Shares are up 23% YTD, outpacing NASDAQ’s 14% and the S&P’s 10%. We continue to view CVG's business model favorably, on call volume strength and potential use of cash for buybacks. However, we believe these factors are already reflected in the share price, and upside from current levels may be limited, in our view, especially given our estimate for just 4% top-line growth in FY12/FY13."
For an analyst ratings summary and ratings history on Convergys click here. For more ratings news on Convergys click here.
Shares of Convergys closed at $15.65 yesterday, with a 52 week range of $8.49-$15.84.
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Oppenheimer downgraded Convergys (NYSE: CVG) from Outperform to Perform.
Analyst, Manish Hemrajani, said, "Shares are up 23% YTD, outpacing NASDAQ’s 14% and the S&P’s 10%. We continue to view CVG's business model favorably, on call volume strength and potential use of cash for buybacks. However, we believe these factors are already reflected in the share price, and upside from current levels may be limited, in our view, especially given our estimate for just 4% top-line growth in FY12/FY13."
For an analyst ratings summary and ratings history on Convergys click here. For more ratings news on Convergys click here.
Shares of Convergys closed at $15.65 yesterday, with a 52 week range of $8.49-$15.84.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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