JANCO Upgrades TeleTech (TTEC) to Buy Mid-Day

Shares of TeleTech Holdings (Nasdaq: TTEC) saw a sharp spike in volume mid-day as an analyst from JANCO issued an intraday upgrade. Despite the increased volume, shares traded flat from where they were prior to the upgrade, up around 9%.

The firm moved its investment rating from Accumulate to Buy, also setting a $21 price target, calling the Q3 results a "positive, given inline revenues and improved margins."

JANCO raised its Q4 EPS estimate from $0.26 to $0.29 and its FY09 estimate from $1.08 to $1.19. For FY10, the firm's estimate moves from $1.11 to $1.21.

TeleTech Holdings, Inc., together with its subsidiaries, provides onshore, offshore, and work-from-home business process outsourcing services focusing on customer management and enterprise management solutions.

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