UPDATE: Stifel Nicolaus Cuts PT to $15, Maintains Buy on Sapient Corporation Post Management Meeting
Stifel Nicolaus reiterated its Buy rating on Sapient Corporation (NASDAQ: SAPE) but lowered its price target from $16 to $15.
Stifel Nicolaus said, "On Thursday we hosted a day of meetings with Sapient CEO Alan Herrick, CFO Joe Tibbetts and IR Director Dean Ridlon. The focus of most meetings was the deceleration of growth in the SapientNitro business unit (Nitro, nearly 70% of revenue) in 2012 and the implications for growth in 2013. While management did not provide any specific commentary on next year, they did help provide some incremental perspective on the deceleration in 2012."
Sapient Corporation closed at $10.34 on Thursday.
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