Luxoft Holding (LXFT) PT Raised to $55 at Cowen

Cowen analyst Moshe Katri reiterated an Outperform rating and lifted the price target on Luxoft Holding (NYSE: LXFT) to $55.00 (from $50.00) amid the Excelain deal.

Katri commented, "The acquisition of Excelian is expected to help LXFT reduce client concentration, while expanding existing client base and geographic reach (in-line with the company's strategic diversification program). Raising our price target from $50 to $55 based on 21x consensus Non-GAAP EPS for CY/15E.

For an analyst ratings summary and ratings history on Luxoft Holding click here. For more ratings news on Luxoft Holding click here.

Shares of Luxoft Holding closed at $50.02 yesterday.

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