In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Luxoft Holding (NYSE: LXFT), with a price target of $44. The company’s shares opened today at $37.40.
Foresi noted:
“: We maintain our Overweight rating on Luxoft and PT$44. We attended the analyst day yesterday. The highlight from the day was management providing mid term (2-3 yr) targets). See pg. 2 for our and Street estimates, consensus, and mid term targets. Demand from the largest client (Deutsche Bank) continues to be a moving target, but the rest of the business remains promising. We see an opportunity in the name as growth rates accelerate and margins expand driving the multiple, as DB headwinds subside next year.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.7% and a 81.7% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Luxoft Holding is Strong Buy and the average price target is $46.75, representing a 25.0% upside.
In a report issued on May 22, KeyBanc also maintained a Buy rating on the stock with a $53 price target.
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The company has a one-year high of $65.30 and a one-year low of $31.50. Currently, Luxoft Holding has an average volume of 294.9K.
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Luxoft Holding, Inc. engages in the provision of software development and information technology solutions. It operates through the following geographical segments: USA, UK, Germany, Russia, Switzerland, Poland, Romania, Singapore, Rest of Europe, and Other. The firm offers software support, product engineering and testing, and technology consulting.
