VanceInfo Technologies (VIT) Share Price Target Cut to $12.00 by Analysts at BMO Capital Markets


Equities research analysts at BMO Capital Markets lowered their price target on shares of VanceInfo Technologies (NYSE: VIT) from $15.00 to $12.00 in a research issued note to investors on Tuesday. They currently have a “market perform” rating on the company’s shares.
Separately, analysts at Zacks Investment Research reiterated a “neutral” rating on shares of VanceInfo Technologies in a research note to investors on Thursday, September 15th. Analysts at Kaufman Brothers cut their price target on shares of VanceInfo Technologies to $20.00 in a research note to investors on Wednesday, August 17th. Also, analysts at Kaufman Brothers upgraded shares of VanceInfo Technologies from a “hold” rating to a “buy” rating in a research note to investors on Monday, August 15th. They now have a $25.00 price target on the stock.
VanceInfo Technologies Inc. is an information technology (IT) service provider and an offshore software development company in China. The Company’s range of IT services includes research and development services, enterprise solutions, application development and maintenance (ADM), testing, as well as globalization and localization. The Company offers its services, through its network of onsite and offsite delivery locations, primarily in China. As of March 31, 2010, it operated a number of offshore development centers in China (CDCs). The Company also delivers its services at customer’s facilities or via its offices in cities across Greater China and in the United States, Europea, Japan and Malaysia. In July 2009, the Company acquired the operating subsidiaries of TP Corporation Limited, a provider of customer relationship management (CRM) solutions and system integration.
VanceInfo Technologies last announced its quarterly results on Tuesday, August 16th. The company reported $0.21 earnings per share (EPS) for the previous quarter, missing the Thomson Reuters consensus estimate of $0.23 EPS by $0.02. The company’s quarterly revenue was up 31.7% on a year-over-year basis. On average, analysts predict that VanceInfo Technologies will post $0.26 EPS next quarter.
Shares of VanceInfo Technologies opened at 11.23 on Tuesday. VanceInfo Technologies has a 52 week low of $9.93 and a 52 week high of $41.06. The stock’s 50-day moving average is $13.99 and its 200-day moving average is $23.37. The company has a market cap of $500.4 million and a price-to-earnings ratio of 16.56.


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