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Fly News Breaks for January 8, 2019
LXFT, DXC
Jan 8, 2019 | 07:34 EDT
JPMorgan analyst Tien-tsin Huang says DXC Technology's (DXC) acquisition of Luxoft (LXFT) "checks the right boxes" to better control the narrative on attaining sustainable revenue growth. The analyst had been hoping for DXC to "change its stripes and prioritize acquiring for revenue growth," and he views Luxoft as a "great match." Luxoft gives DXC scale in the attractive outsourced engineering market that's growing solidly in double-digits and should benefit from being on DXC's network, Huang tells investors in a research note. He keeps an Overweight rating on DXC Technology with an $83 price target.
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