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Fly News Breaks for August 14, 2018
Aug 14, 2018 | 07:00 EDT
JPMorgan analyst Tien-tsin Huang rebalanced his ratings in the IT/BPO Services sector while establishing 2019 price targets. Analyst Puneet Jain upgraded Conduent (CNDT) to Overweight from Neutral with a $24 price target. Jain is more confident that the company's turnaround can unlock earnings power based on first half of 2018 results. He recommends the stock along with DXC Technology (DXC) "among legacy IT services firms in transition." Huang downgraded Cognizant Technology Solutions to Neutral from Overweight saying there is "less margin for error at this point of its turnaround to expand margins and drive revenue growth." The analyst also downgrades Genpact (G) to Underweight from Neutral saying the company ranks at the bottom in terms of price target upside with only 9% upside. Further, the company faces the "burden of higher revenue growth expectations when a wait-and-see approach seems more prudent to us before assigning a higher target multiple," Huang tells investors in a research note.
News For CNDT;CTSH;G;DXC From the Last 2 Days
Mar 19, 2019 | 08:15 EDT
Pitney Bowes (PBI) announced a partnership with Genpact (G). Through Genpact's business-process-as-a-service capability, Pitney Bowes' will offer its clients a unique equipment finance platform. This managed services operating model will allow Wheeler Financial to scale quickly and meet market and customer needs in a flexible and agile manner. Wheeler Financial will help clients purchase new equipment and services critical to the industries in which they operate with loans, leases, and other financial structures.