Endava upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Puneet Jain upgraded Endava to Overweight from Neutral with an unchanged price target of $49. The stock has been “severely punished” following the recent guidance cut, making the risk/reward much more attractive, the analyst tells investors in a research note. The firm views the near-term guidance as achievable, at least in the lower half, and says any signs of revenue stability or sequential growth “could trigger a relief rally.”