JP Morgan Lowers PT On SYNT To $60

JP Morgan has issued a report lowering the Price Target on Syntel SYNT from $64 to $60 a share. According to the report, "We remain OW longer term given the company's attractive revenue growth profile and our view that longer-term margins could stay around 20% (excl. FX), but we're incrementally cautious." SYNT has an Overweight Rating and closed at $56.61 a share yesterday.