Concentrix price target raised to $165 from $157 at BofA

BofA analyst Ruplu Bhattacharya raised the firm’s price target on Concentrix to $165 from $157 and keeps a Buy rating on the shares after the company reported fiscal Q1 results and also announced that it has entered into an agreement to combine with Webhelp in a transaction valued at $4.8B. The transaction is expected to close by end of 2023 and expected to be accretive to EPS of over 7% in the first full year after close, and double-digit accretive in year two, notes BofA, which adds that this combination "makes sense" from a strategic standpoint.