Jefferies Assumes Coverage on iGATE (IGTE) at Hold
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Price: $15.91 -3.46%
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
Rating Summary:
6 Buy, 2 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 0 | Down: 0 | New: 0
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Jefferies assumes coverage on iGATE (NASDAQ: IGTE) with a Hold and $13 price target.
The firm states, "The recent transformational acquisition of Patni has long-term potential, but in the near-term we see integration and balance sheet risks associated with this deal as likely inhibitors of multiple expansion. Shares appear cheap, but we don't see prospects for many near-term positive catalysts, especially in the current "risk-off" environment. Assume coverage with Hold rating (was Buy previously)."
For more ratings news on iGATE click here and for the rating history of iGATE click here.
Shares of iGATE closed at $11.68 yesterday.
The firm states, "The recent transformational acquisition of Patni has long-term potential, but in the near-term we see integration and balance sheet risks associated with this deal as likely inhibitors of multiple expansion. Shares appear cheap, but we don't see prospects for many near-term positive catalysts, especially in the current "risk-off" environment. Assume coverage with Hold rating (was Buy previously)."
For more ratings news on iGATE click here and for the rating history of iGATE click here.
Shares of iGATE closed at $11.68 yesterday.
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