Needham & Company Reiterates a 'Buy' on Exlservice (EXLS); Another Solid Performance; Risk-Reward Remains Attractive

Needham & Company reiterates a 'Buy' on Exlservice (NASDAQ: EXLS) price target of $32.00.

Needham analyst says, "Following a solid 3Q print, EXLS hosted an upbeat analyst day, focusing on its strategic investments and growth initiatives. Management has done a commendable job through both organic and inorganic means of creating a differentiated asset in the BPO space with strong vertical and domain capabilities. We believe the offshore BPO space is an underpenetrated market and EXLS is well positioned to exploit it and deliver mid-teens organic revenue growth, 50-100 bps operating margin expansion, and 20%+ organic EPS growth LT. At 16x CY12 EPS, we believe the risk-reward remains attractive for a consistent earnings outperformer and reiterate our rating." (Needham raises FY12 EPS estimate from $1.55 to $1.60)

For more ratings news on Exlservice click here and for the rating history of Exlservice click here.

Shares of Exlservice closed at $25.02 yesterday.

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