BGB Securities Reiterates Buy Rating, $8 PT On NSTC

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.