Needham & Company Starts Syntel, Inc. (SYNT) at Buy; Steady As She Goes
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Price: $40.99 --0%
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 22 | New: 20
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Needham & Company initiates coverage on Syntel, Inc. (NASDAQ: SYNT) with a Buy.
Needham analyst says, "We believe Syntel is positioned to ride the global IT offshoring trend. The company is run by a solid and conservative management team that has demonstrated a high level of consistency over the years. Syntel has strong capabilities in key growth areas such as financial services, healthcare, and knowledge process outsourcing (KPO) that should enable it to grow at least in line with the industry. We believe management has set the bar low for FY11 and see potential for upside to revenue and earnings as the year progresses. Despite the strong run this year, we believe the stock is inexpensive at 16x (ex-cash) FY12 EPS power for 20-25% EPS growth long term."
For more ratings news on Syntel, Inc. click here and for the rating history of Syntel, Inc. click here.
Shares of Syntel, Inc. closed at $58.50 yesterday.
Needham analyst says, "We believe Syntel is positioned to ride the global IT offshoring trend. The company is run by a solid and conservative management team that has demonstrated a high level of consistency over the years. Syntel has strong capabilities in key growth areas such as financial services, healthcare, and knowledge process outsourcing (KPO) that should enable it to grow at least in line with the industry. We believe management has set the bar low for FY11 and see potential for upside to revenue and earnings as the year progresses. Despite the strong run this year, we believe the stock is inexpensive at 16x (ex-cash) FY12 EPS power for 20-25% EPS growth long term."
For more ratings news on Syntel, Inc. click here and for the rating history of Syntel, Inc. click here.
Shares of Syntel, Inc. closed at $58.50 yesterday.
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