Luxoft price target raised to $52 from $46 at Cantor Fitzgerald. Cantor Fitzgerald analyst Joseph Foresi raised his price target for Luxoft to $52 following a "positive" meeting with management. Headwinds at the company's largest client Deutsche Bank remain an overhang, but the client should have a much smaller impact, less than 10% of revenues, next year, Foresi tells investors in a research note. The analyst believes Luxoft's current multiple provides a positive risk/reward "with opportunities for expansion from reduced client concentration, healthy growth outside core clients, margin expansion, and the auto business." He maintains an Overweight rating on the stock.
