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.
Joseph D. Foresi