ExlService Holdings Given Neutral Rating at Bank of America (EXLS)
Bank of America reissued their neutral rating on shares of ExlService Holdings (NASDAQ: EXLS) in a report released on Monday. Bank of America currently has a $32.10 target price on the stock, up from their previous target price of $28.00.
“4Q revenue was in-line with our estimate while PAT was ~2% higher on lower tax. CY13 organic rev guidance of ~8-10%yoy was also as expected with slower growth in outsourcing supplemented by continuing traction in transformation services. Transitioning out of low margin contracts is likely to help improve gross margin for CY13/14 and leads us to raise EBITDA est by 6%/5%. We raise PO led by estimate revision and roll forward to CY14. Valuation of 9x CY14E EV/EBITDA (in-line with average over last 5years) limits further upside and underpins our Neutral stance. Key upside risks: Faster than expected closure of large deals that have recently entered EXL’s pipeline and accretive acquisitions.,” the firm’s analyst commented.
EXLS has been the subject of a number of other recent research reports. Analysts at Jefferies Group reiterated a hold rating on shares of ExlService Holdings in a research note to investors on Monday. They now have a $32.00 price target on the stock, up previously from $27.00. Separately, analysts at Oppenheimer raised their price target on shares of ExlService Holdings from $32.00 to $34.00 in a research note to investors on Monday. They now have an outperform rating on the stock. Finally, analysts at Needham & Company downgraded shares of ExlService Holdings from a buy rating to a hold rating in a research note to investors on Monday. They now have a $30.00 price target on the stock.
Six analysts have rated the stock with a buy rating, and six have issued a hold rating to the company’s stock. ExlService Holdings has a consensus rating of overweight and an average price target of $32.56.
ExlService Holdings opened at 32.26 on Monday. ExlService Holdings has a 1-year low of $20.28 and a 1-year high of $32.83. The stock’s 50-day moving average is currently $29.95. The company has a market cap of $1.039 billion and a price-to-earnings ratio of 25.52.
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