Oppenheimer Reiterates an 'Outperform' on iGATE (IGTE); Integration Progressing Well
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Price: $48.00 --0%
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
Rating Summary:
4 Buy, 6 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 21 | New: 20
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Oppenheimer reiterates an 'Outperform' on iGATE (NASDAQ: IGTE) price target of $18.00.
Oppenheimer analyst says, "IGTE's strong upside EBITDA performance during 3Q suggests healthy integration progress with most of the margin improvement coming from greater optimization of the Patni employee base. While it's early, iGate appears comfortably on its way to achieving its two-year (by 2Q13) gross and EBITDA margin targets. We believe iGate's EBITDA growth potential is under-appreciated. We conservatively estimate $243M in EBITDA for FY12 and wouldn't preclude $300M+ (~$4/share) in EBITDA during FY13 assuming management executes on its margin goals. We continue to believe IGTE provides one of the more favorable risk/reward profiles within our coverage."
For an analyst ratings summary and ratings history on iGATE click here. For more ratings news on iGATE click here.
Shares of iGATE closed at $14.75 yesterday.
Oppenheimer analyst says, "IGTE's strong upside EBITDA performance during 3Q suggests healthy integration progress with most of the margin improvement coming from greater optimization of the Patni employee base. While it's early, iGate appears comfortably on its way to achieving its two-year (by 2Q13) gross and EBITDA margin targets. We believe iGate's EBITDA growth potential is under-appreciated. We conservatively estimate $243M in EBITDA for FY12 and wouldn't preclude $300M+ (~$4/share) in EBITDA during FY13 assuming management executes on its margin goals. We continue to believe IGTE provides one of the more favorable risk/reward profiles within our coverage."
For an analyst ratings summary and ratings history on iGATE click here. For more ratings news on iGATE click here.
Shares of iGATE closed at $14.75 yesterday.
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