| 2017-08-11 07:49:28|
LXFT, DB… 07:49 08/11 08/11/17
Luxoft downgraded on weakness of multiple clients at Wedbush
As noted earlier, Wedbush downgraded Luxoft (LXFT) to Neutral from Outperform. As reasons for the downgrade, analyst Moshe Katri cited the deceleration in the spending of its top two clients, Deutsche Bank (DB) and UBS (UBS), and a "spending pause" by a number of its other clients which are undergoing M&A. Target to $50 from $67.