UPDATE: Citigroup Upgrades WNS Limited to Buy on Fundamentals, Demand Improvement

Citigroup upgraded WNS Limited

from Neutral to Buy and announced a $15.00 price target. Citigroup noted, "Upgrading WNS to Buy with a $15 target price on (1) improving demand trends for offshore BPO services; (2) better underlying fundamentals for WNS in terms of solid execution on its expansion / go-to-market strategies; (3) improved balance sheet position; and (4) attractive current valuation." WNS Limited closed at $12.25 on Thursday.