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Fly News Breaks for November 17, 2017
VRTU
Nov 17, 2017 | 08:06 EDT
Needham analyst Mayank Tandon raised his price target on Virtusa to $55 and kept his Buy rating following meetings with company management. Tandon says the discussion added to his confidence regarding Virtusa's ability to "sustain above-industry revenue growth while continuing to expand operating margins". The analyst says the second half of FY18 and FY19 will show strong top-line growth as a result of strength in the company's core banking vertical along with improving trends in the insurance, healthcare, and telecom segments.
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