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PTI posts

U.S. Outsourcer iGate to Acquire India's Patni Computer Systems

Posted Jan 11th 2011 2:30PM by Connie Madon (RSS feed)
Filed under: Deals

The outsourcing market is highly competitive. In a bold move, smaller outsourcer iGate (IGTE) is acquiring Patni Computer Systems (PTI) of India.

The Financial Times reports that under the terms of the deal, iGate will pay $931 million for a 63% stake in Patni. Some money is coming from private equity firm General Atlantic, and $279 million will come from Apax Partners.

At Rs503.50 a share, the deal represents a 9.4% premium to Patni's remaining shareholders which will be worth $301 million.

Continue reading U.S. Outsourcer iGate to Acquire India's Patni Computer Systems

Analyst upgrades, downgrades and initiations: BBY, LYG, XOM, BIDU

Posted Jan 28th 2009 12:10PM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Best Buy (BBY), Analyst Initiations

Analyst upgrades:

Barclays upgraded Best Buy (NYSE:BBY) to Overweight from Equal Weight and raised their target to $35 from $28 citing the company's earnings power and free cash flow generation.
William Blair upgraded St. Jude Medical (NYSE:STJ) to Outperform from Market Perform following the company's Q4 results on valuation and the company's "steady growth."
Wunderlich upgraded Liberty Interactive (NASDAQ:LINTA) to Buy from Hold as they believe debt concerns are overdone. The firm thinks that language in the proxy statement for the Liberty Entertainment hard spin suggests that cash and cash flow from the stub Entertainment tracker could be used to provide inter-company support to Interactive. The firm raised their target to $5 from $4.25.
Lloyds TSB Group (NYSE:LYG) was raised to Buy from Hold at Citigroup.
BB&T (NYSE:BBT) was removed from Goldman's Conviction Sell List.
Patni Computer (NYSE:PTI) was upgraded to Buy from Hold at KeyBanc.

Continue reading Analyst upgrades, downgrades and initiations: BBY, LYG, XOM, BIDU

Analyst upgrades, downgrades and initiations: AXYS, CX, EPG, CKP, CBS ...

Posted Dec 23rd 2008 11:40AM by Eric Buscemi (RSS feed)
Filed under: Analyst Reports, Analyst Upgrades and Downgrades, Analyst Initiations

Analyst upgrades:

Axys Tech (NASDAQ: AXYS) was upgraded to Outperform from Market Perform at Morgan Keegan on valuation.
Credit Suisse upgraded Cemex (NYSE: CX) to Neutral from Underperform following the company's refinancing announcement.
Patni Computer (NYSE: PTI) was upgraded to Buy from Neutral at UBS.

Analyst downgrades:

Merriman downgraded Environmental Power (NASDAQ: EPG) to Neutral from Buy citing a lack of visibility into the company's capital raise and lowered their estimates to reflect a slippage in project schedules.
Jefferies cut inVentiv Health (NASDAQ: VTIV) to Hold from Buy as they believe budget cuts at the company's client base make 2009 estimates too high. The firm lowered their target to $11 from $15.
Oppenheimer downgraded RSC Holdings (NYSE: RRR) to Perform from Outperform to reflect the continued deterioration in non-residential construction and valuation following the recent rally.
Smurfit-Stone (NASDAQ: SSCC) was lowered to Hold from Buy at Deutsche Bank.
Distribucion Y Servicio (NYSE: DYS) was downgraded to Sell from Hold at Deutsche Bank.
Key Energy (NYSE: KEG) was downgraded at SMH Capital to Neutral from Accumulate.

Analyst initiations:

AECOM Technology (NYSE: ACM) was initiated with an Outperform rating and $34 target at Baird. The firm is positive on AECOM's diverse portfolio of services and global reach.
Baird also initiated Checkpoint (NYSE: CKP) with a Neutral rating and $11 target, citing the weak macro environment.
Thomas Weisel said Integra LifeSciences (NASDAQ: IART) has little exposure to economically sensitive areas of healthcare and has a varied mix of products that provide a platform for sustainable organic growth. Shares were initiated with an Overweight rating.
Piper Jaffray assumed CBS Corp (NYSE: CBS) with a Neutral rating.
BioMarin (NASDAQ: BMRN) was started at Stanford with a Hold rating.
Websense (NASDAQ: WBSN) was initiated with an Equal Weight at First Analysis.