iGate Corp (IGTE) Tops Q2 EPS by 1c

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Nomura Securities Downgrades iGATE (IGTE) to Reduce

July 18, 2014 8:01 AM EDT

Nomura Securities downgraded iGATE (NASDAQ: IGTE) from Neutral to Reduce with a price target of $35.00 (from $29.00) saying the current multiple is unlikely to be sustainable.

Analyst Ashwin Mehta said, "News flow at iGATE has been positive with: 1) successive large deal wins over the past five quarters; and... More