-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:
We reduce our 12-month target price to USD13 from USD14.00 by rolling forward our valuation to FY 28 EPS and applying a P/E of 14.4x. This represents a 1.25 standard deviation discount to its 10-year average of 21.6x. The lower multiple reflects constrained earnings visibility due to AI-led efficiency, cautious discretionary spending, and limited visibility on deal conversion timing. We maintain our FY 27 revenue forecast at USD20.9B and introduce our FY 28 revenue estimate of USD21.7B, implying gradual growth as pipeline conversion improves but remains measured. We also maintain our FY 27 EPS view at USD0.85 and introduce FY 28 EPS of USD0.88, reflecting stable margins with modest revenue growth. We remain cautious as cyclical segments continue to weigh on growth, with weakness in manufacturing and telecom offsetting strength in core enterprise verticals. We believe earnings will improve only when deal ramp-ups become more consistent and client spending recovers.