Indian technology Services going up American Technology Services going down and dxc Technology CEO is fired
And they accused me for the failure of DXC technology but I didn't get fired for poor performance or dropping revenue by 50% and stock price by 90%
DXC Technology (DXC): The firm downgraded DXC's shares to Sell from Neutral with a price target of $21. The analysts see added uncertainty post December 2023 quarter expectations and go-forward strategy following the recent and abrupt CEO exit announcement. Only the Free cash flow, or FCF, portion of the FY24 outlook was confirmed (also affirmed prior fiscal third quarter '24 outlook), which leads to downside concerns around other portions of the FY24 outlook along with the potential drivers of the CEO exit decision.
The analysts think that the intermediate-to-long-term risk to the story here cannot be ignored.
ExlService (EXLS): The firm upgraded ExlService's shares to Buy from Neutral with a $36 price target. The analysts said the stock underperformed in 2023 despite consistent beat-and-raise quarters and industry-leading top-line growth and they expect these attributes to continue in 2024.
The analysts anticipate AI-related disruption fears to ease as consistent execution continues and they view current valuation levels as attractive