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UPDATE: J.P. Morgan Reiterates Neutral Rating, Raises PT on Syntel on F4Q Postview

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Benzinga's Top Upgrades
Baird: Buy The Dip On Syntel

In a report published Friday, J.P. Morgan reiterated its Neutral rating on Syntel (NASDAQ: SYNT), and raised its price target from $60.00 to $64.00.

J.P. Morgan noted, “SYNT reported upside in F4Q results, and issued in-line FY13 guidance. We believe both, revenue and earnings, guidance could prove to be conservative. However earnings guidance implies CY13 margins of 26-28%, higher than SYNT's usual initial margin target of ~20%, suggesting less upside than what the company reported last year. While CY13 revenue growth could come in below industry average rate, we attribute it to tough comps, and believe the company could grow at industry average rates over the near term. As such, we maintain our N rating.”

Syntel closed on Thursday at $58.25.

Latest Ratings for SYNT

Feb 2016Maxim GroupUpgradesHoldBuy
Jan 2016JP MorganUpgradesUnderweightNeutral
Aug 2015BairdUpgradesNeutralOutperform

View More Analyst Ratings for SYNT
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Posted-In: J.P. MorganAnalyst Color Price Target Analyst Ratings


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