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Fly News Breaks for December 14, 2018
VRTU
Dec 14, 2018 | 09:55 EDT
Barrington analyst Vincent Colicchio views the 17% pullback in shares of Virtusa since the company's November 8 earnings report as an "attractive" buying opportunity. Following several quarters of uneven performance, in each of the past four quarters Virtusa has met or exceeded consensus revenue and non-GAAP earnings forecasts, Colicchio tells investors in a research note. The analyst thinks the company should benefit from its "heavy exposure and strengths in legacy application rationalization/modernization and digital transformation services." Colicchio has an Outperform rating on the shares with a $64 price target.
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