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Fly News Breaks for May 16, 2019
VRTU
May 16, 2019 | 07:17 EDT
Cantor Fitzgerald analyst Joseph Foresi lowered his price target for Virtusa to $56 from $62 saying the company missed fiscal Q4 expectations and issued fiscal 2020 guidance below estimates due to a slowdown at a large banking client. However, the analyst sees reason for optimism as the company's growth rates have improved along with margins. As such, he maintains an Overweight rating on Virtusa.
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