Needham & Company analyst Mayank Tandon raised the price target on WNS Limited (NYSE: WNS) to $72.00 (from $67.00) while maintaining a Strong Buy rating.

The analyst commented, "WNS posted upside 1Q results, beating estimates on both the top and bottom line given strong revenue and margin trends. The company also modestly increased its constant currency revenue growth outlook for FY20 to ~10.5% growth from 10%, with management specifically calling out the strong momentum in providing work to high-growth Internet-based companies, which made up 14% of FY19 revenue versus 6% in FY15. We continue to recommend WNS given its strong operating track record with regards to organic growth, premium operating margins, and effective capital management. Following the strong start to FY20 and healthy market trends, we are raising our estimates for FY20 and FY21. WNS remains a high conviction idea, offering SMID investors a balance of offense and defense, and we are reiterating our Strong Buy rating and raising our target to $72."