UPDATE: JP Morgan Upgrades WNS Holdings Limited to Neutral on Restructuring Results

JP Morgan upgraded WNS Holdings Limited

from Underweight to Neutral with a reiterated $12 price target. JP Morgan said, "We upgrade WNS from Underweight to Neutral as we believe management's drawnout restructuring efforts could be finally bearing fruit in terms of an improving growth profile that we expect could hit double digits by year-end. Moreover, the company's bookings and pipeline remain healthy, in our view. WNS won a large contract in F1Q and expects to win at least one more such contract over the near term, which should drive next year's growth rate closer to its peers (in low to midteens)." WNS Holdings Limited closed at $10.19 on Friday.