02:35 AM EDT, 03/17/2026 (MT Newswires) -- CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows:

We keep our Hold rating but lower our 12-month target price to USD14 (from USD19), based on a FY 27 (Mar.) P/E of 16.8x (previously 22.8x). The multiple ascribed represents -1 SD of the 10-year historical average P/E of 21.7x, reflecting concerns over cautious enterprise technology spending and the potential impact of AI adoption on outsourcing demand. We maintain our FY 26 revenue forecast at USD19.6B (+1.7% Y/Y) and introduce FY 27 revenue estimate of USD20.9B (+6.6% Y/Y), reflecting modest expansion in a cautious demand environment and gradual improvement in discretionary IT spending. We also maintain our FY 26 EPADS forecast at USD0.78 (+3% Y/Y) and 2027 EPADS view at USD0.85 (+9% Y/Y), reflecting stable margins within management's guided range of 20%-22%. In our view, wider adoption of AI-assisted development tools may gradually reduce the labor intensity of certain outsourcing services and influence contract pricing over time, while enterprises remain cautious in expanding discretionary IT budgets.