As reported earlier, Needham analyst Mayank Tandon upgraded Virtusa to Strong Buy from Buy with a price target of $65. The analyst cites the recent pullback in the stock price giving him greater confidence in the upside, saying the company "remains well positioned to sustain above-industry revenue growth, expand operating margins, and deliver industry-leading 20-25% EPS growth" over medium to long term. Tandon is especially positive on the online banking vertical prospects while also noting improvements in insurance, healthcare, and telecom industries, adding the stock has as much as 45% upside to his $65 price target.