Susquehanna Upgrades Ness Technologies (NSTC) to Positive
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Susquehanna upgrades Ness Technologies, Inc. (Nasdaq: NSTC) from Neutral to Positive with a $13 price target, citing solid execution.
The firm said, "NSTC posted an excellent 1Q, enjoying significant revenue upside from the Ness Europe division in a consistent pattern that dates back more than a year. While currency volatility may have cost some earnings upside, a refocus on high-profit services should counteract this concern going forward. Specifically, we believe NSTC should benefit from secular growth in the company's Software Product Lab (delivered from India) and Eastern Europe offerings, both high profit margin contributors."
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