BGB Securities is reiterating its Buy rating and $8 PT on shares of Ness Technologies Inc. NSTC.
The reiteration comes “after announcing a new Software Product Labs (SPL) engagement with Barclay's Capital,” BGM Securities writes. “The deal is for a total contract value of $75M over 5 years. We believe this new win is significant as it is a validation of its software engineering offering. At 4.9x our CY11 EBITDA estimates, we remain buyers of the shares.”
Ness Technologies Inc. currently trades at $5.62.
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Posted In: Analyst RatingsBGB SecuritiesInformation TechnologyIT Consulting & Other ServicesNess Technologies Inc.
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