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Fly News Breaks for April 22, 2016
SYNT
Apr 22, 2016 | 09:25 EDT
Needham analyst Mayank Tandon lowered his price target for Syntel to $48 from $52 after the company missed estimates for Q1 and lowered 2016 guidance because of delays in discretionary spending. Although the analyst is disappointed with Syntel results, guidance, and sustained underperformance relative to its peers, he believes growth should recover "gradually." Tandon reiterates a Buy rating on the shares.
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