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Fly News Breaks for February 14, 2018
LXFT
Feb 14, 2018 | 10:15 EDT
As previously reported, Cowen analyst Avishai Kantor downgraded Luxoft to Market Perform from Outperform, stating that the overall uncertainty in the company's portfolio appears to be getting worse, not better. The company's top two clients, representing 34% of its revenues, will continue to contract meaningfully in FY19, noted Kantor, who expects Luxoft shares to remain under pressure until signs of execution are seen. The analyst cut his price target on Luxoft shares to $50 from $63.
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