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Fly News Breaks for March 15, 2018
VRTU
Mar 15, 2018 | 08:41 EDT
Needham analyst Mayank Tandon raised the price target on Virtusa to $65 and kept his Buy rating after the company's acquisition of eTouch Systems announced this week. Tandon contends that the deal is a strong strategic fit, strengthening Virtusa's digital abilities and expanding its presence into the "high-growth" tech arena with revenue stream diversification. The analyst sees upside potential to his estimates from the oneTouch accretion along with "incremental strength" in Virtusa's core business.
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