"Taking IT Offshore" Weekly: Now The Real Fun Begins – Market Analysis

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Crucial June Results Key to 2012 Success

KEY POINT:

Our main takeaway this week was our upgrade of WNS to BUY due to a desirable entry point. We think the catalysts are in place (large contract ramp, salesforce increases, & healthy demand) to drive revenue growth back to industry levels which should result in multiple expansion.

In the News. Genpact announced a deal with Dr. Reddy’s Laboratories (RDY; NR) to provide F&A services. WNS announced its first delivery center in North America with the opening of its center in Columbia, South Carolina. Wipro is interested in over $1 bn in acquisitions over the next 18 months.

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Joseph D. Foresi
617-557-2972

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