UPDATE: Stifel Reiterates Buy Rating, Raises PT on Sapient Corporation Following Management Lunch

In a report published Monday, Stifel analyst David Grossman reiterated a Buy rating on Sapient Corporation SAPE, and raised the price target from $18.00 to $19.50. In the report, Stifel noted, “Late last week we hosted a lunch with CEO Alan Herrick and IR director Dean Ridlon. In sum, management seemed very comfortable with the company's competitive position and the underlying fundamentals of the business. We left the meeting feeling confident that 2014 revenue growth and margin performance should at least resemble 2013 performance—approximately 12% revenue growth and 13.3-13.7% margins—which is consistent with current 2014 consensus EPS of $0.68 (11% revenue growth and 13.5% operating margin y/y). We also left feeling management is executing a longer-term strategy focused on building high level relationships within large accounts and creating global infrastructure in the fastest growing consumer markets (Nitro), which can negatively impact near-term revenue growth and margin.” Sapient Corporation closed on Friday at $16.00.