Kaufman Bros. Starts Syntel, Inc. (SYNT) at Hold; Proven Execution Track Record with Marquee Clients
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Price: $40.99 --0%
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
1 Buy, 12 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Kaufman Bros. initiates coverage on Syntel, Inc. (NASDAQ: SYNT) with a Hold. PT $52.00.
Kaufman analyst says, "We see steady growth prospects for Syntel in the under-penetrated offshore IT services market, led by: 1) its marquee customer base with effective client mining; 2) proven execution track record; 3) solid visibility led by a high mix of recurring revenue; 4) a favorable mix of high-margin KPO business; 5) strong positioning in financial services and healthcare verticals; 6) healthy cash position offers flexibility to make investments; and 7) heightened infrastructure investments to capitalize on growth prospects."
"That said, we would wait for more clarity on the upcoming State Street JV (~15% of revenue). While we believe the likelihood of State Street transferring such services in-house or to another vendor are low, it remains on overhang on the shares, in our opinion."
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 $51.18 yesterday.
Kaufman analyst says, "We see steady growth prospects for Syntel in the under-penetrated offshore IT services market, led by: 1) its marquee customer base with effective client mining; 2) proven execution track record; 3) solid visibility led by a high mix of recurring revenue; 4) a favorable mix of high-margin KPO business; 5) strong positioning in financial services and healthcare verticals; 6) healthy cash position offers flexibility to make investments; and 7) heightened infrastructure investments to capitalize on growth prospects."
"That said, we would wait for more clarity on the upcoming State Street JV (~15% of revenue). While we believe the likelihood of State Street transferring such services in-house or to another vendor are low, it remains on overhang on the shares, in our opinion."
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 $51.18 yesterday.
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