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Fly News Breaks for February 28, 2020
EXLS
Feb 28, 2020 | 05:10 EDT
Citi analyst Ashwin Shirvaikar upgraded ExlService to Neutral from Sell with a price target of $75, up from $67. Some of the forward financial uncertainty has dissipated now that the Health Integrated wind-down is complete, Shirvaikar tells investors in a research note. Further, ExlService's 2020 margin outlook shows underlying expansion, adds the analyst. However, Shirvaikar believes the stock is not attractive yet despite a "more balanced" risk/reward profile given a "full" valuation.
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