Jefferies Assumes Coverage on Syntel, Inc. (SYNT) at Hold

Jefferies assumes coverage on Syntel, Inc. (NASDAQ: SYNT) with a Hold and $52 price target.

The firm said, "SYNT has an impressive track record of execution predicated on conservative guidance, and 2Q showed nice recovery in q/q rev growth. Trading at 15.5x C12 EPS, shares look somewhat cheap vs. historical levels and some comps. But in the current environment, we think sub-Tier 1 offshore vendors could see tepid investor interest, especially those with high financial services exposure. Assume coverage with a Hold rating (was Buy previously)."

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 $49.60 yesterday.

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