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Fly News Breaks for August 15, 2019
VRTU
Aug 15, 2019 | 08:25 EDT
Barrington analyst Vincent Colicchio views the recent selloff in shares of Virtusa as an attractive buying opportunity. The stock has declined 25% since the company released its fiscal Q1 earnings report, which included disappointing financial guidance, Colicchio tells investors in a research note. While Virtusa has reduced expectations for two consecutive quarters and it should take some time to regain investor confidence, the company has recovered from similar setbacks in the past and the current valuation "appears compelling," contends the analyst. He keeps an Outperform rating on the shares with a $60 price target.
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