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Fly News Breaks for January 6, 2017
VRTU
Jan 6, 2017 | 07:33 EDT
As previously reported, Wedbush analyst Moshe Katri upgraded Virtusa to Outperform from Neutral to reflect improving spending outlook in the FS vertical, which will provide increased investor confidence in 2018's expectations. The analyst says a combination of improving utilization rates at acquired Polaris as well as a more mature onsite, digital delivery model are expected to drive EBIT margins higher to the low teens in 6-12 months. He also raised his price target on the shares to $35 from $29.
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