Market Overview

Citigroup Reiterates on ExlService Holdings Following Recent 3Q13 Earnings Call

Share:
Related EXLS
40 Biggest Movers From Friday
26 Stocks Moving In Friday's Mid-Day Session

In a report published Tuesday, Citigroup analyst Ashwin Shirvaikar reiterated a Buy rating $35.00 price target on ExlService (NASDAQ: EXLS).

In the report, Citigroup noted, “During its recent 3Q13 earnings call, EXLS had indicated it had a Top 3 client that was close to a final decision on whether to walk away from EXLS. In an 8K filed after the close today, EXLS named the client (Travelers) and discussed the background on the client and the circumstances of the client loss. Travelers represented 9.6% of EXLS total revenues in 3Q-2013. Our view is that another vendor to whom the work can be transferred has not yet been identified, so there should be no material impact on calendar year 2013 revenues. While the company estimated a $14-$28 million impact (3%-6% of revenues) in 2014, that is an early guess given the above circumstance. BPO contracts tend to be remarkably sticky and so a much longer transition and a correspondingly smaller 2014 impact is quite possible – of course this would just prolong the ‘grow-over' agony.”

ExlService closed on Monday at $29.07.

Latest Ratings for EXLS

DateFirmActionFromTo
Jun 2018SunTrust Robinson HumphreyUpgradesHoldBuy
Mar 2018Cowen & Co.DowngradesOutperformMarket Perform
Oct 2017CitigroupMaintainsNeutral

View More Analyst Ratings for EXLS
View the Latest Analyst Ratings

Posted-In: Ashwin Shirvaikar CitigroupAnalyst Color Reiteration Analyst Ratings

 

Related Articles (EXLS)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
AMTDMorgan StanleyUpgrades65.0
APOMorgan StanleyDowngrades34.0
ARMKBairdUpgrades44.0
CGMorgan StanleyDowngrades23.0
EIXEdward JonesDowngrades0.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

UPDATE: Goldman Sachs Reiterates on ExlService After Key Client Terminates Agreement

Facebook Is A Buy On Weakness