Needham & Company Reiterates a 'Buy' on Syntel, Inc. (SYNT); Ends FY11 With a Bang; Conservative Guidance For FY12
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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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Needham & Company reiterates a 'Buy' on Syntel, Inc. (NASDAQ: SYNT) price target of $70.00.
Analyst, Mayank Tandon, said, "Syntel reported solid 4Q results, comfortably beating on revenue, margins, and earnings. Growth was solid across key service lines and industry segments; hiring was robust, indicating high revenue visibility entering FY12; and attrition declined. Management indicated the pipeline remains healthy, with no change in customer decision cycles, and provided initial FY12 guidance in line with expectations that appears to be conservative. Earlier this week, SYNT announced a 5-yr extension of its KPO JV with State Street (NYSE: STT)(NotRated), removing a major overhang on the stock. While the stock appears to be off to the races, finishing up almost 22% on the day on the back of a solid 4Q print and initial FY12 guide, we believe it remains inexpensive at 15x ex-cash our CY12E EPS."
Needham lowers FY12 EPS estimate from $3.34 to $3.22.
For an analyst ratings summary and ratings history on Syntel, Inc. click here. For more ratings news on Syntel, Inc. click here.
Shares of Syntel, Inc. closed at $55.25 yesterday.
Analyst, Mayank Tandon, said, "Syntel reported solid 4Q results, comfortably beating on revenue, margins, and earnings. Growth was solid across key service lines and industry segments; hiring was robust, indicating high revenue visibility entering FY12; and attrition declined. Management indicated the pipeline remains healthy, with no change in customer decision cycles, and provided initial FY12 guidance in line with expectations that appears to be conservative. Earlier this week, SYNT announced a 5-yr extension of its KPO JV with State Street (NYSE: STT)(NotRated), removing a major overhang on the stock. While the stock appears to be off to the races, finishing up almost 22% on the day on the back of a solid 4Q print and initial FY12 guide, we believe it remains inexpensive at 15x ex-cash our CY12E EPS."
Needham lowers FY12 EPS estimate from $3.34 to $3.22.
For an analyst ratings summary and ratings history on Syntel, Inc. click here. For more ratings news on Syntel, Inc. click here.
Shares of Syntel, Inc. closed at $55.25 yesterday.
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