Market Overview

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

Related SYNT
Top 4 NASDAQ Stocks In The Information Technology Services Industry With The Highest ROA
Top 4 Mid-Cap Stocks In The Information Technology Services Industry With The Highest ROE

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

DateFirmActionFromTo
May 2014JP MorganMaintainsNeutral
Mar 2014Singular ResearchInitiates Coverage onSell
Jul 2013JP MorganMaintainsNeutral

View More Analyst Ratings for SYNT
View the Latest Analyst Ratings

Posted-In: J.P. MorganAnalyst Color Price Target Analyst Ratings

 

Related Articles (SYNT)

Around the Web, We're Loving...

Get Benzinga's Newsletters