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Fly News Breaks for April 4, 2018
VRTU
Apr 4, 2018 | 07:34 EDT
As reported earlier, SunTrust analyst Frank Atkins downgraded Virtusa to Hold from Buy and lowered his price target to $51 from $55. Atkins notes that while Virtusa stock has risen 166% since November of 2016, future upside may be more limited amid increasing pricing pressure within the mid-to-high quartile of work as evidenced by the findings in his recent CIO survey, stabilization in the rate of growth within the management/technical consulting industry, and a less diversified client base.
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