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Fly News Breaks for March 14, 2018
VRTU
Mar 14, 2018 | 08:05 EDT
Maxim analyst Brian Kinstlinger raised his price target on Virtusa to $64 after the company's latest acquisition of eTouch, adding a west coast presence to its geographic span along with digital capabilities that "diversify its customer concentration". The analyst sees a modest accretion to Virtusa EPS from eTouch deal while also pointing to the benefits of the recent Polaris delisting that should eliminate 19c from Virtusa's minority interest. Kinstlinger keeps his Buy rating on Virtusa and also raises his FY19 EPS view to $2.24 from $2.07 based on the impact of the two deals.
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