Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of information technology outsourcing expert Syntel
So what: Deutsche lifted the stock from hold to buy and boosted its target price for the stock from $50 to $57. In its report, Deutsche noted that Syntel is trading at an attractive valuation relative to its peers -- a group that includes high-multiple competitors such as Cognizant Technology
Now what: Unfortunately, today's big move squeezed much of the remaining juice that Deutsche was highlighting. However, the bank's bullish appraisal of Syntel could be a good reason for growth-oriented investors to put this one on their radar in case the stock takes a dip down the road.
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